FINDLAY, Ohio (Oct. 5)—Cooper Tire & Rubber Co. has adjusted third-quarter earnings projections downward due to sluggish economic conditions. The company now expects earnings per share for the period in the range of 17 to 21 cents. Cooper´s original expectations were based on the anticipation of rising customer demand and market activity over the summer months. However, "the economy has not bounced back as expected and has recently delcined in many areas which will drive lower than expectd results for Cooper," said Thomas A. Dattilo, chairman, president and CEO in a prepared statement. Both sales of tires and automotive components have suffered during the unexpected decline, Dattilo said.
Cooper adjusts quarterly projections downward
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