By Patrick Raleigh ERJ On-line news editor
Akron, Ohio-Goodyear Tire & Rubber Co. has confirmed that it will report its delayed fourth quarter 2003 results and restated results for the years 1999-2003 on 19 May. The company said it expects to delay filing first quarter 2004 (Q1/04) results until mid-June.
The late Q1/04 filing will require Goodyear to renegotiate certain terms with its creditors, as it has previously managed to do with regard to its 2003 results, said an 11 May group statement. The firm expects a year-on-year improvement in first quarter operating income for each of its seven businesses, it added.
Goodyear is, meanwhile, seeking to amend its European credit terms to allow it to delay delivery of audited 2003 results for its Goodyear Dunlop Tires Europe BV joint venture. These statement were due to be filed by 19 May, but will not now be ready until 4 June, the group said.