MILAN, Italy (May 30) — Pirelli & C. S.p.A. posted $1.74 billion in sales in the first quarter — a 10.8-percent increase — though net income was essentially flat at $75.1 million.
The firm´s Pirelli Tyre division posted a 6-percent increase in revenues to $1.41 billion in the quarter as its net income fell 5.9 percent to $77.5 million. The division reported a 4.5-percent increase in its operating income, however, despite continuing increases in raw material costs, the firm said.
Pirelli Tyre´s consumer business showed overall growth in sales and the bottom line, the company said, on greater volumes and improved product price and mix. Its car segment experienced continued growth in the high-performance tire segment.