Federal sales up 13.3% worldwide; North American sales jump 70%

TAIPEI, Taiwan (Feb. 7)—Federal Corp., buoyed by a 38-percent jump in export sales, reported a 13.3-percent rise in parent company sales last year, to $89.4 million. Included in the export sales increase was a 70-percent jump in sales in North America, to $20.1 million. Earnings were slightly more than $9 million, Federal said. Sales to domestic customers in Taiwan fell 12.1 percent during the year, the firm said. The results do not include sales from Federal's JFT operations in China, which in 2000 totaled more than $25 million. Export sales rose to $53.7 million, or 60 percent of total sales worldwide. Federal attributed much of its export sales growth to higher-than-anticipated demand for its range of SS595 high-performance tires.