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Cooper Tire & Rubber Company
Cooper Tire & Rubber Company Reports First Quarter Results
May 24th, 2009
Cooper Tire & Rubber Company (NYSE:CTB) reported a net loss of $21 million, or 36 cents per share, for the quarter ended March 31, 2009. Net sales for the period were $571 million, down $108 million from the prior year same quarter. The decreased revenues were driven by volume declines offset by improved pricing and mix. Results were pressured by decreased volumes and production curtailments as the Company manages inventory to align with demand. Operating profit was favorably impacted by lower raw material costs and improved underlying manufacturing operations, in addition to the improved sales price and mix. Cooper's results during the quarter included pretax...
Source: Pharma Investments, Ventures & Law Weekly (2009-05-24)
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