AKRON (Oct. 30)—Goodyear posted net income of $33.7 million during the third quarter, up from $9.3 million in the like period, the company reported Oct. 30. It was the second consecutive quarter the Akron tire maker posted a profit, after losing more than $63 million in the first three months of 2002. Goodyear had global sales of $3.53 billion during the quarter, down 4 percent from $3.68 billion last year. For the year, the company is just below the break-even point, at about $600,000 in the red, on net sales of $10.3 billion. Through the first nine months of 2001, Goodyear had a net loss of $29.6 million on sales of $10.7 billion. Six of the firm's seven business units improved their profit margins during the third quarter, though the North American Tire segment continued to struggle. Operating income for the period was $10.1 million, down from $87.9 million last year, and sales were down 11.2 percent to $1.74 billion. Goodyear said North American tire sales decreased during the quarter because of reduced replacement market volume, fewer tires delivered in connection with the Ford Motor Co. replacement program and an unfavorable product mix.
Goodyear more than triples income, though sales fall, in third quarter
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