ERJ staff report (TB)
AKRON (April 29, 2009)-Goodyear posted a loss of $333 million in the first quarter on weak global demand for its products and a nearly 30-percent decline in sales, despite a volume decline of just 20 percent.
The company’s loss compared to earnings of $147 million in last year’s first quarter. Sales fell to $3.54 billion in the quarter.
The company said the weak sales reflect the $766 million impact of a 20-percent decline in tire unit volume because of significantly lower global industry demand….