FINDLAY, Ohio (Jan. 27, 2004) — Cooper Tire & Rubber Co. will report its fourth quarter and year-end results Feb. 5, followed by a conference call.
The results will be released before the market opens, and the call begins at 1 p.m. A Web cast of the call will be available at Cooper's Web site, www.coopertire.com.
For the third quarter and nine months ending Sept. 30, the Findlay-based tire maker saw operating and net earnings slide despite sales gains in both reporting periods. The decreased earnings resulted primarily from lower results in the automotive products sector. For the quarter, net earnings slipped 23.7 percent, to $17.8 million, and operating profit was down 20.6 percent, to $43.5 million.
Despite reporting lower earnings in the third quarter, Findlay, Ohio-based Cooper Tire & Rubber Co. is bullish on the rest of 2003 and on 2004 based on rebounding market demand, above-market growth by a number of new customers and new automotive component supply contracts coming on stream.