Akron, Ohio--Goodyear has said its first-quarter sales were the highest ever, at $4800 million, while profits were positive for the fourth consecutive quarter. The company reported a net income of $68 million for the three-month period, compared with a loss of $78 million a year earlier. The company said raw materials costs in the period were $119 million higher than a year ago, while sales revenue was $500 million higher.
The company sold 55.9 million tyres in the three months. In the European Union, the company sold 16 million tyres, compared with 16.3 million a year earlier. Revenues, however, were up to $1198 million, from $1111 million. The operating margin in the segment was 8.9 percent, up from 6.3 percent a year earlier.
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Press release from Goodyear