Alliance's 1Q profit jumps 200%
Alliance Tire Co.'s pre-tax profit during the first quarter of 2005 totaled $5.1 million, a 200% increase over the same period last year.
The Hadera, Israel-based specialty tiremaker's first quarter sales were $37.6 million versus $32.1 million during the first quarter of 2004, a 17.1% increase.
"Exports, which represent 78% of Alliance's sales, were also strong," say Alliance officials.
"We see a continued increase in demand for our tires," says Alliance President Joseph Anglister.
"Our first quarter profits are in step with our continuing growth, which has been the reward for our efforts to improve both our production effiency and marketing."