Cooper posts record sales for the quarter, year-to-date income still down

FINDLAY, Ohio (Oct. 16)—Cooper Tire & Rubber Co.'s sales for the third quarter were $913 million reflecting a 9-percent increase vs. the year-earlier period. Cooper Tire posted all-time record sales of $526 million, while Cooper-Standard Automotive's third-quarter sales of $392 million were up 3 percent year over year and a record for the third quarter, thanks to a 15-percent increase in international automotive sales and content on strong vehicle platforms. Cooper posted total net income of $18 million in the quarter. Year-to-date, the manufacturer's net sales remained $2.5 billion, but net income was down to $46 million vs. $88 million in the first nine months of 2002. Cooper said it gained market share in its tire segment in nearly every category of light vehicle tires. Overall, net sales of Cooper's house brand tires were up 16 percent; unit sales increased 13 percent.