RubberBuzz || Akron Unleashed: Rubber Rebound

8.05.2005

Rubber Rebound

Yea for Goodyear! The tiremaker is on the rebound financially and the blimp hasn't crashed in well over a month!

Halfway to its 2005 fiscal finish line, Goodyear on Thursday reported it is well ahead of last year's pace, when it reported an annual profit for the first time in four years.

Goodyear reported that in the second quarter, which ended June 30, its earnings climbed to $69 million, or 34 cents a share -- double its profit a year earlier.

The company also posted record sales of $5 billion in the quarter, 11 percent higher than a year earlier. It sold 56.4 million tires in the quarter, up from 55 million.

The results solidly beat analysts' earnings expectations of between 20 and 25 cents a share.

The BJ :: Goodyear's earnings surge past estimates

(joe :: Rubber Rebound)

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