NASHVILLE, Tenn. (Aug. 9)—A strong turnaround at Bridgestone/Firestone Americas Holding Inc. helped push first-half earnings at parent Bridgestone Corp. up to $205 million on sales of $9.15 billion. While sales at the subsidiary were up slightly over the same period last year, operating and net income improved greatly. BFAH posted operating income of $54 million and net revenue of $483 million for the first six months vs. an operating loss of $75 million and a net loss of $14 million. The company attributes the dramatic improvement to successful restructuring measures that have led to increased efficiency and lower costs as well as improved unit sales of passenger and light truck tires. BFAH forecasts sales for 2002 will reach $7.6 billion, with operating profit of $190 million and net income of $50 million. Last year the firm posted a $1.67 billion loss.
Bridgestone/Firestone Americas Holding reports strong first-half results
Rubber & Plastics News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].