AKRON (Feb. 14)—Goodyear had a net loss of $102 million in the fourth quarter, due mainly to increasing raw material costs, the further decline of the euro´s value vs. the U.S. dollar and reduced North American original equipment sales. The Akron tire maker posted net income of $37 million in 1999´s fourth quarter. Net sales declined as well, falling 4.1 percent to $3.53 billion from $3.68 billion in 1999. For the year ended Dec. 31, sales increased to a record $14.4 billion, up 7.9 percent from $13.4 billion in 1999. The Dunlop businesses in Europe and North America, acquired through the 1999 alliance with Japan´s Sumitomo Rubber Industries Ltd., contributed about $2.3 billion in sales for 2000. Goodyear´s net income for the year dropped 83.4 percent to $40.3 million from $243.2 million in 1999.
Goodyear announces fourth-quarter loss, year-end sales record for 2000
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