(Source: Datamonitor)
Cooper Tire & Rubber Company has reported that net income attributable to the company was $46.83 million or $0.77 per diluted share, for the third quarter ended September 30, 2009, compared to a net loss attributable to the company of $55.38 million or $0.94 per diluted share, for the third quarter ended September 30, 2008.
The company's net sales for the third quarter of 2009 were $802.79 million, compared to $793.75 million for the third quarter of 2008.
For the first nine months ended September 30, 2009, the company has reported a net income of $12.6 million or $0.21 per diluted share, compared to a net loss of $75.93 million or $1.28 per diluted share, for the same period of 2008.
Net sales for the first nine months of 2009 were $2 billion, compared to $2.24 billion for the first nine months of 2008.
Roy Armes, CEO of the company, said: "The positive results during the quarter were the outcome of successfully executing on our plan in an environment where a positive price to raw material relationship existed. This resulted in extremely positive margin growth and an operating profit during the quarter of nearly 9%."
A service of YellowBrix, Inc.
