Cooper’s sales hit record high, earnings fall

FINDLAY, Ohio (Oct. 21)–Despite record-breaking sales of $551.4 million, Cooper Tire & Rubber Co.’s net income fell to $9.9 million in the third quarter from $17.8 million in the like period last year.

Much of the income drop was attributed to a loss of $3 million from discontinued operations, which were included in the financial report.

Net income increased to $68.1 million in the first nine months of 2004 from $43.6 million last year while sales jumped 15 percent to $1.5 billion.

Net income increased to $68.1 million…

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