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Titan posts net loss despite better sales in 2007.(News)(Financial report)
- Article from:
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European Rubber Journal
- Article date:
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March 1, 2008
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Copyright informationCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Titan International Inc. posted record sales for the fourth quarter and the year after expanding its farm and earthmover tyre offerings in 2007, but it reported a net loss for both periods partially because of off-the-road tyre production realignment costs.
The Quincy, Illinois-based tyre and wheel maker reported a 23.2-percent surge in net sales to $837 million ([euro]550.5 million) in 2007 against $679.5 million in 2006. Titan posted a $7.25 million net loss for the year, down from a profit of $5.14 million in 2006.
A $13.4 million non-cash ...
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