Cooper’s tyre unit income down despite higher sales

Findlay, Ohio–Despite 4-percent higher sales during the fourth quarter, Cooper Tire & Rubber Co.’s North American tyre operations suffered a 40.1-percent drop in segment operating profit on lower unit volumes, 16-percent higher raw material costs and other factors.

Overall, Cooper reported net sales in the quarter of $541 million, up 5.1 percent from last year. Net income from continuing operations fell 58.4 percent to $3.2 million. Including income from discontinued operations and the gain from the sale of Cooper-Standard Automotive, the tyre maker posted net…

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