Skip to main content
Sister Publication Links
  • Rubber News
  • European Rubber Journal
Subscribe
  • Login
  • Register
  • Subscribe
  • Current Issue
  • Mid-Year Report
  • ADAS
  • News
    • OPINION
    • BUSINESS/FINANCIAL
    • COMMERCIAL TIRE
    • GOVERNMENT & LAW
    • Humanitarian Award
    • RETAIL TIRES
    • SERVICE ZONE
    • TIRE MAKERS
    • Best Places to Work
    • RUSSIA WAR IN UKRAINE
  • 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
April 18, 2005 02:00 AM

Bandag's sales, earnings rise in first quarter

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

    MUSCATINE, Iowa (April 18, 2005) — With help from an improving North American trucking industry, Bandag Inc. reported a 7.5-percent increase in net sales and a 48.3-percent growth in net earnings for the first quarter.

    Bandag reported net sales of $186.6 million, up from $173.5 million last year. Net earnings jumped to $5.96 million from $4.02 million.

    Bandag said net sales were affected positively by a sales increase of $10.8 million by its Speedco truck lube subsidiary, in which it purchased controlling interest last year. Also helping were a 5-percent increase in North America business unit volume coupled with a 7.2-percent increase in Speedco's net sales and an increase of 6 percent in international business unit volume with a net sales boost of 29 percent.

    Currency translation also positively impacted sales by about $4.2 million.

    Factors negatively impacting overall sales included an $8.3 million decline in sales from divested locations of Bandag's Tire Distribution Systems (TDS) Inc. subsidiary and a 17-percent decrease in European business unit volume as well as a 9-percent fall in sales in the TDS unit.

    “On the positive side, we believe continued strength in the trucking industry in our major markets will work to Bandag's benefit as we continue delivering an expanded array of value-added vehicle services, which complement our traditional business,” said Martin Carver, chairman and CEO of Bandag.

    “At the same time, we recognize that continued increases in raw material and transportation costs will be a concern throughout 2005.”

    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
    Discount Tire installs RoboTire at Arizona store
    2
    TBC Brands expands Pennsylvania distribution warehouse
    3
    Toyo's Serbia plant focusing first on supplying U.S.
    4
    ADAS: Recalibration vital in windshield replacement
    5
    Conti to support, supply Toyota GR Cup racing series
    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
    • 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 © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • Mid-Year Report
    • ADAS
    • News
      • OPINION
      • BUSINESS/FINANCIAL
      • COMMERCIAL TIRE
      • GOVERNMENT & LAW
      • Humanitarian Award
      • RETAIL TIRES
      • SERVICE ZONE
      • TIRE MAKERS
      • Best Places to Work
      • RUSSIA WAR IN UKRAINE
    • 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