AKRON (July 23)—Goodyear reported net earnings or $7.8 million, or 5 cents per share, for the second quarter ended June 30, up from the net loss of $46.7 million posted in the first quarter, the firm announced July 23. The improvement, part of expected sequential recovery in the year's sluggish global economy, was welcome, but leaves the company short of where it wants to be, said Samir G. Gibara, Goodyear chairman and CEO. The Akron tire maker posted net earnings of $77.1 million during 2000's second quarter. Production curtailments, which were enacted in the second quarter and resulted in a manufacturing drop-off of 6 million tires, will continue in the third quarter, Gibara said. Net sales for the 2001 second quarter were $3.58 billion, down less than 1 percent from the same period last year. For the six-month period in 2001, Goodyear has lost $38.9 million, down from $125.3 million in 2000. Sales also dropped 3.8 percent for the half-year, to $7 billion from $7.27 billion in 2000.
Goodyear improves on disappointing first quarter with profitable second period
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