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…

To read more,please login or register below.

This is the first step to more free
content, user offers, subscriptions
and more.
Log in here using the Email Address
and Password you signed up with