MUSCATINE, Iowa (April 22)—Improved trucking activity and favorable foreign currency exchanges helped push Bandag Inc.'s first-quarter net income up 66.7 percent to $4 million from $2.4 million last year.
Sales dipped 1 percent to $173.5 million, the retreading materials and equipment maker said.
Tire Distribution Systems Inc. sales dropped 55.4 percent in the quarter to $40.9 million from $63.6 million following divestitures and closings in 2003 and 2004, Bandag said.