USA: Cooper Tire reports Q1 profits
Cooper Tire & Rubber Company has reported a first quarter operating profit of $25 million despite some of the most difficult industry and market conditions experienced in many years. Sales for the quarter reached $758 million but were down nearly 18 percent compared to $922 million achieved a year earlier when both tyre and automotive component sales reached record levels. Net income for the quarter was $3.6 million and earnings per share were 5 cents.
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