AKRON (Aug. 5)—Goodyear recorded record sales and had net income of $69 million in the second quarter, more than double the $30 million it reported for the like period in 2004.
Sales came in at $5 billion, up 10 percent from those recorded in last year´s second quarter.
Goodyear said tire unit volume was more than 56 million units, up slightly from 55 million units last year. Those increases were driven by gains in the European, Latin American and Asia/Pacific markets.
Five of the firm´s businesses had record second quarter sales and its North American and European units reported improved margins, Chairman and CEO Robert J. Keegan said.
Keegan said Goodyear offset record high raw material costs with better strategic planning and product mix enhancements.
He anticipates raw material prices, which increased by $133 million during the quarter, will rise by about 10 percent for the year.