|
|
Article: Tough quarter for tire firms.
- Article from:
- Tire Business
- Article date:
- August 18, 2008
CopyrightCOPYRIGHT 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)
|
The recent financial results of most tire companies show many struggled through a difficult quarter of skyrocketing raw material and energy costs and a weak economy.
The following is a compilation of tire makers' and suppliers' financial reports.
Bridgestone
Tokyo-based Bridgestone Corp. suffered double-digit drops in operating and net income for the six months ended June 30 as rising raw materials and energy costs offset marginally higher sales revenue.
As a result, Bridgestone has cut its earnings expectations for fiscal 2008 by more than 20 percent from those released in February, which already were below the fiscal 2007 ...