Coopertire

Cooper net income rises; repurchase programme extended

Findlay, Ohio – Cooper Tire & Rubber Co. reported a 16.7% jump in net income for the year ended 31 Dec and revealed an extension of its share repurchase programme into 2017.

The firm’s net income increased to $248.4 million (€234 million) in 2016, up from $212.8 million the year before, Cooper said during a presentation of its 2016 financials on 17 Feb. Cooper’s fourth quarter income improved 14.4% to $69.3 million.

Operating income for the year rose 8.4% for the year to $384 million, or 13.1%…

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