Goodyear shows earnings improvement in 2002 second quarter

AKRON (July 23)—Goodyear reported net income of $28.9 million, more than triple the $7.8 million posted last year, in the second quarter ended June 30, the Akron tire maker announced July 23. The earnings figure also was up significantly from the first quarter, when the company had a net loss of $63.2 million. Net sales for the second quarter were down slightly to $3.48 billion from $3.58 billion in the year-earlier period, Goodyear reported. Tire unit volume also was down 4 percent from last year to 53.3 million units. For the half-year of 2002, the company posted a net loss of $34.3 million, based largely on the poor first-quarter showing, while net sales were down about 3 percent from 2001 to $6.79 billion.