Goodyear Tire 3Q revenue rises 3%, above $5 billion |
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Tue, 30 Oct 2007 13:39
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NEW YORK (Thomson Financial) - Goodyear Tire & Rubber Co. Tuesday said third-quarter income from continuing operations rose to $159 million, or 67 cents a share, a figure that was impacted by charges related to depreciation costs, a tax law change and a gain on asset sales.The mean estimate of analysts polled by Thomson Financial was 53 cents a share. The company said revenue per tire rose 7% over 2006.Sales for the Akron, Ohio-based tire company rose 3% to $5.06 billion, above the $4.92 billion analyst estimate.In the year-ago period, the company posted a loss from continuing operations of $76 million, or 43 cents a share, on sales of $4.91 billion.Shares of Goodyear closed Monday at $27.11.Ryan Vlastelicarv/pcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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TF North America Daybook - Tuesday, Oct. 30, 2007 