AKRON-Despite dramatic increases in raw material and other costs over the past year, Goodyear said it anticipates record second-quarter net income and sales. Second-quarter net income-which will be announced July 25-will be in a range of $171 million to $176 million, Goodyear said, compared with $163.2 million in the 1994 period.
The tire maker expects worldwide sales to grow about 8.2 percent to $3.3 billion.
Bandag sales, income up 15% in 2nd qtr.
MUSCATINE, Iowa-Bandag Inc. boosted second-quarter earnings 15 percent to $24.9 million, compared with the year-ago period, on a 15.7-percent jump in sales to $182.9 million.
For the six-month period, Bandag's earnings climbed 20 percent from 1994 levels to $44.5 million. First-half sales leapt 21.2 percent to $351.2 million.
Michelin Xh4 sales pass 8 million mark
GREENVILLE, S.C.-Michelin said it has sold more than 8 million XH4 all-season radials in a little more than 3.5 years-an industry record for a premium tire, according to the company.
The XH4 was the first tire to come with an 80,000-mile treadwear warranty.
Titan Tire nets military contracts
QUINCY, Ill.-Titan Tire Corp., a subsidiary of Titan Wheel International, has won contracts totalling $16.4 million from the Department of the Army and the U.S. Army Tank Automotive and Armaments Command (TACOM) to supply 98,000 tires for HMMWV military vehicles and 11,000 tires for grader and loader-dozer applications.
Titan Wheel COO Michael R. Samide said the agreements are the firm's first major military contracts since it created its Titan Tire unit in July 1994 with the acquisition of Pirelli Armstrong Tire Corp.'s former Des Moines, Iowa, tire plant.
Iwoa Mold Tooling posts 20% sales gain
CLEVELAND-Iowa Mold Tooling (IMT) and its parent, Sudbury Inc., boosted sales during the fourth quarter and fiscal year, ended May 31.
Of Sudbury's six operating companies, IMT and Wagner Castings turned in particularly strong results, posting sales gains in excess of 20 percent for the quarter, the company said.
Sudbury ended the quarter with an 16.9-percent jump in sales to $87.1 million, compared with the year-ago period, although net income dipped 5 percent to $4.91 million.
For the year, Sudbury hiked sales 21.9 percent to $305.4 million and nearly doubled earnings to $13.6 million.
Big O sales clinb 16% during 1st half
ENGLEWOOD, Colo.-The sale of six company real estate holdings during the second quarter helped Big O Tires Inc. inflate its net sales for the first half of 1995.
Total net sales for the second quarter, ended June 30, jumped 21.5 percent to $37.8 million, compared with the year-earlier period, but earnings slipped less than 1 percent to $645,000.
For the first half, Big O's earnings grew 9.2-percent to $934,000, on sales of $66.9 million, a 16.4-percent increase.
Coming up next . . .
A special commemorative TIRE BUSINESS publication, a tribute to the independent tire dealer on the occasion of the National Tire Dealers & Retreaders Associa-tion's 75th anniversary,will accompany the Aug. 7 TB issue.