TOKYO (Feb. 19, 2008) — Bridgestone Corp. reported double-digit gains for fiscal 2007 in sales and earnings, touting improved results in all segments and regions.
Bridgestone's operating and net income jumped 35 and 54.6 percent, respectively, to $2.12 billion and $1.12 billion. The company said the positive effects of higher volumes, improved pricing and product mix and foreign exchange gains outweighed the negative effects of higher raw materials costs and depreciation.
Sales for the year jumped 13.3 percent to $28.8 billion, primarily because of higher tire division sales. As a result, the operating and net earnings ratios improved roughly a full percentage point to 7.4 and 3.9 percent, respectively.