Alliance Tire Co. enjoyed its third consecutive quarter of profits after three successive years of losses during the third quarter.
The Hadera, Israel-based specialty tiremaker achieved a third quarter net profit of $102,000. It lost $1.66 million during the same period last year.
Alliance also posted a 26.3% gain in sales during 3Q 2004 to $29.7 million, plus an operating profit of $1.8 million vs. $835,000 during 3Q 2003.
Alliance´s net profits for the first nine months of 2004 totaled $3.7 million, while its sales jumped 29% over the same period last year to $93.4 million.
Isia Tchetchik, Alliance´s chairman, says the company´s growth "demonstrates that Alliance is experiencing a solid and sustained improvement in business performance."