Titan posts sales gains in second quarter, first half

July 30, 2007

Titan International Inc.'s second quarter sales totaled $210.3 million, a 20% increase over 2Q 2006 levels. Year-to-date, Titan's sales reached an all-time record of $436.6 million.

Titan's second quarter income from operations was $27.3 million versus $22.4 million during the second quarter of 2006.

However, the specialty tiremaker's net income for the second quarter was $5 million, down from $5.6 million for the same period in 2006.

Overall, Titan Chairman and CEO Morry Taylor says the second quarter "has been very exciting for Titan."

He also says that Titan has "cash on hand to fund all current projects, except for acquisitions."