ERJ staff report (R&PN)
Quincy, Illinois — Record sales of farm tyres failed to offset a decline in total sales and earning for Titan International Inc. during the first quarter.
The Quincy-based tyre maker reported a 13.4-percent decrease in net earnings to $7.04 million as net sales fell 8.2 percent to $232.6 million in the quarter ended March 31, compared with the year-ago period.
Agricultural sales hit a record of $187.3 million, an 8-percent jump over the previous first quarter.
â€œLarge farm tyres and wheels were selling well in…