AKRON-Goodyear expects to break the $3 billion mark in quarterly sales for the first time in its 97-year history and to record double-digit gains in net income over the 1994 period. The company is projecting sales will exceed $3.1 billion for the first quarter, up about 7 percent from last year.
First-quarter net income is expected to reach between $130 million and $133 million, a 12- to 14.7-percent increase.
Stanley C. Gault, Goodyear chairman and CEO, cited the firm's global diversity and substantial growth in international markets as major contributing factors in the gains. He said the company has minimized the negative impact of rising labor costs and ``unprecedented'' raw material price hikes by:
Substituting lower-cost materials with equal performance characteristics wherever possible;
Improving capacity utilization; and
Raising the prices of its products.
Goodyear plans to release its first-quarter results April 25.