ENGLEWOOD, Colo.-Big O Tires Inc. reported its 1995 sales increased by 11.3 percent to $142.1 million compared to 1994. However, its net income last year dove 42.7 percent, to $1.54 million vs. $2.69 million the previous year. Fourth quarter results followed the same pattern, with sales edging up 2.7 percent to $904,000 over the same 1994 period. But net income plummeted to $98,000 from $1.24 million for the same year-earlier period-a precipitous drop of 92.1 percent.
The Englewood-based franchiser blamed its earnings tumble on non-recurring charges associated with a shareholder proposal adopted in June 1994, loss on closure of stores, and warehouse consolidation costs.