Loading…
Monday, July 28, 2014
Current Weather
Loading Current Weather....
HomeNewsLocal
Published: Thursday, 4/21/2005

Strike in Arkansas hurts Cooper Tire's net

FINDLAY - Cooper Tire & Rubber Co., one of the nation's largest tire producers, said yesterday that a 26-day strike at an Arkansas factory hurt its profit for the first quarter, even though its sales increased.

The Fortune 500 firm said profit slumped 79 percent to $5.2 million, or 7 cents a share, from $24.3 million, or 32 cents a share, for the period a year earlier. The strike cost the firm about $7 million, or 7 cents a share, but much of that was offset by the company's sale of its automotive parts business, resulting in a $6 million gain for the quarter.

Cooper said its sales for the quarter were a record $514 million, compared with $480 million a year earlier.

The company's stock closed yesterday up 27 cents at $17.24 a share in twice normal volume trading on the New York Stock Exchange.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.







Poll