LAS VEGAS (Nov. 3, 2004) — Despite rising raw material costs and oil prices, Bridgestone Corp. projects to post net income of $959 million, Bridgestone/Firestone CEO Mark Emkes told dealers attending the company´s annual retailers conference during the Specialty Equipment Market Association show in Las Vegas.
Mr. Emkes said Bridgestone Corp. is projecting sales of $21.8 billion for 2004. The company also expects to post $1.71 billion in operating income for 2004. Mr. Emkes noted that though the North American company still isn´t profitable—largely because of raw material costs—the Latin American and Diversified Products units are expected to post profits in the Americas in 2004.
He also lauded dealers, noting that Bridgestone/Firestone sales through its Family Channel dealer network have increased by 1 million units over 2003.
"I hope you get the sense that we´re on a roll," Mr. Emkes told dealers, adding that the tire maker is trying to "build excitement through its brands."