ERJ staff report (DS)
Quincy, Illinois -- Titan International reported sales for second quarter 2010 were $229.7 million, an increase of $22.7 million or 11 percent, as compared to $207.0 million in the second quarter of 2009. Gross profit was $33.9 million for the second quarter of 2010, a 14 percent increase when compared to $29.7 million in the second quarter of last year.
"The second quarter was a good quarter for a number of reasons, but first I want to give credit to the management team and all Titan employees for their effort, talent and prompt action to make this happen," said Chairman and CEO Maurice M. Taylor Jr. "The numbers speak for themselves. If you look at the cash flow you will see that there is about an extra $1 million each quarter in depreciation and amortisation related to the new off-the-road (OTR) equipment when compared to the same quarters in 2009.
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Press release from Titan International