TOKYO-Despite upward revisions in parent Bridgestone Corp.'s forecast of full-year 1996 results, the expectations for Bridgestone/Firestone Inc. remain unchanged. Nashville, Tenn.-based Bridgestone/Firestone projects net income will climb 38.5 percent this year to $180 million, compared with $130 million in 1995. Sales should reach $6.5 billion, up from $6.14 billion last year.
Bridgestone revised its estimate for full-year consolidated (total worldwide) recurring profit to $1.3 billion from an initial projection of $1.2 billion.
Last year the company posted $980.2 million in consolidated recurring profit.
After-tax net earnings are expected to rise to $730 million, up 4.3 percent from its previous forecast of $700 million. Last year, Bridgestone's net profit was $540.1 million.
On a non-consolidated basis (results of the Japanese parent company only), Bridgestone enjoyed a 27.9-percent increase in recurring profit for the first half of the year, to $368 million.
First-half non-consolidated sales grew 9.6-percent, clocking in at $3.06 billion. Tire sales accounted for $2.55 billion-a 12-percent increase from the 1995 period.
Bridgestone offset a drop in original equipment passenger, truck and bus tires by introducing new replacement passenger tires. In addition, Bridgestone made gains in unit export tire sales because of increased sales to the Middle East, Africa and Asia.