Bridgestone also sees profit fall in Q3

ERJ staff report (DS)

Tokyo -- In common with other tyre makers, Bridgestone Corp. saw its third quarter profit fall substantially on lower sales volumes. Higher prices, however, offset the reduced volumes, leading to sales levels on a par with a year ago.

The company reported sales for the three months ended September 2008 level at Yen 858 600 million compared with Yen 851 100 million a year ago. Operating income, however, declined to Yen 35 500 million compared with Yen 60 800 million reported in Q3 2007.

For the nine-month period, Bridgestone said volatility in markets had been a defining charactierstic, with signs of a slow-down in Japan and in Europe, while North America slowed significantly.

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Press release from Bridgestone