QUINCY, Ill. (July 25)—Titan International Inc. was in the black during the second quarter ended June 30, posting operating earnings of $4 million and net income of $383,000, the company reported July 25. The figures were a big improvement over the operating loss of $4.56 million and net loss of nearly $4 million posted in the like period of 2001. Net sales for the quarter improved 4.6 percent from 2001 to $125.8 million. For the half-year, Titan posted a $2.5 million loss on sales of $249.6 million. Maurice Taylor Jr., Titan president and CEO, credited the improvement of the agricultural market segment; the strength of foreign currencies against the U.S. dollar; and the company's cost reduction, product development and delivery improvements as factors in the firm's second-quarter turnaround.
Titan earnings returns to black in second quarter
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