Skip to main content
Sister Publication Links
  • Rubber News
  • European Rubber Journal
Subscribe
  • Login
  • Register
  • Subscribe
  • Current Issue
  • BEST PLACES TO WORK
  • News
    • HUMANITARIAN
    • TIRE MAKERS
    • COMMERCIAL TIRE
    • GOVERNMENT & LAW
    • MERGERS & ACQUISITIONS
    • OBITUARIES
    • OPINION
    • MID YEAR REPORT
    • SERVICE ZONE
  • ADAS
  • Data
    • DATA STORE
  • Custom
    • SPONSORED CONTENT
  • Resources
    • Events
    • DIRECTORY
    • CLASSIFIEDS
    • SHOP FLOOR
    • AWARDS
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
    • RUBBER NEWS EVENTS
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Best Places to Work
  • ADVERTISE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
February 14, 2002 01:00 AM

TBC hits $1 billion in sales; 2001 earnings jump 11.8 percent

Tire Business Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    MEMPHIS, Tenn.—TBC Corp. reached its goal of $1 billion in sales in 2001 and along the way posted record revenues and earnings.

    For the year ended Dec. 31, the Memphis-based marketer of automotive replacement tires reported a 12.2 percent jump in net income to $21 million as sales grew 11.8 percent to $1.01 billion.

    While TBC experienced a slight dip in fourth quarter sales to $247.7 million due to the general economic slowdown in the second half of 2001, earnings rose a healthy 26.7 percent to $5.7 million, the company said.

    TBC President and CEO Larry Day singled out the company's multi-channel marketing approach as a key contributor to the increased revenue growth. This approach is “revitalizing growth opportunities for our company and enhancing value for our shareholders,” he said.

    He also was pleased with the performance of TBC's retail operations, which he said contributed an increased portion of sales and income and supported market share gains in 2001.

    Big O Tires Inc., TBC's network of franchised retail tire stores, grew by 42 locations last year to a total of 504 outlets. The company's Tire Kingdom dealership also added 20 company-owned retail service centers and now has 184 locations, mostly in Florida.

    Because of these retail sales gains, TBC's total unit tire volume outperformed the industry in 2001 and looks promising for 2002, Mr. Day said. Plans for next year include further expand its retail network with new locations for both dealership chains.

    TBC also will continue on the acquisition hunt, Mr. Day said, based on a strong EBITDA (earnings before interest, taxes, depreciation and amoritization), which grew 12.6 percent in 2001 to $60 million.

    “The strength of our EBITDA provides support for our future expansion plans, including both internal initiatives as well as additional strategic acquisitions,” Mr. Day said. “Our intent is to continue to be a consolidator in a consolidating industry, while at the same time maintaining a sound financial position.”

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    Most Popular
    1
    Tire Discounters grows again, adds Skip Cottrell's
    2
    Icahn-owned Auto Plus files for Chapter 11 protection
    3
    Truck sector leads U.S. tire market; consumer down
    4
    K&M welcomes dealers to annual conference in Vegas
    5
    Black's Tire Service holds leadership conference
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • Instagram
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    Reader Services
    • Staff
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • BEST PLACES TO WORK
    • News
      • HUMANITARIAN
      • TIRE MAKERS
      • COMMERCIAL TIRE
      • GOVERNMENT & LAW
      • MERGERS & ACQUISITIONS
      • OBITUARIES
      • OPINION
      • MID YEAR REPORT
      • SERVICE ZONE
    • ADAS
    • Data
      • DATA STORE
    • Custom
      • SPONSORED CONTENT
    • Resources
      • Events
        • ASK THE EXPERT
        • LIVESTREAMS
        • WEBINARS
        • SEMA LIVESTREAMS
        • RUBBER NEWS EVENTS
      • DIRECTORY
      • CLASSIFIEDS
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
      • AWARDS
        • Best Places to Work
    • ADVERTISE
    • DIGITAL EDITION