8/4/16 – 7:22 A.M.
Even though net sales were down for Cooper Tire & Rubber in the second quarter of 2016 compared to last year, the company posted an $11 million increase in net income. Second quarter results for the Findlay-based tire maker were released today. The numbers show net sales were $740 million for April, May, and June. That’s down $12 million from the same period in 2015.
At the same time, operating profit increased by 10.5 percent, from $99 million last year to $110 million this year. That accounts for 14.8 percent of net sales, which the company says is a record for the second quarter.
The release from Cooper says the increase in operating profit was partially due to better raw material costs. Higher unit volume and lower expenses in other areas also helped increase profit for the quarter.Read More →