QUINCY, Ill. (Dec. 8, 2008)-Titan International Inc.´s sales next year could grow as much as 38 percent with pre-tax operating income of as much as $190 million.
Chairman and CEO Maurice Taylor Jr., is forecasting 2009 to be a "great year," at least in the off-the-road segments in which Titan competes.
Taylor said Titan´s 2008 sales could hit $1 billion, which would represent growth of 19.5 percent over 2007. He´s predicting 2009 sales of $1.18 billion to $1.35 billion.
Pre-tax operating income of $190 million would be more than double the anticipated equivalent figure in 2008, according to the firm´s nine-month results. In fiscal 2007 the company was in the red.
Taylor attributes the spread in his forecast to uncertainties about raw materials costs, which should be lower starting in the second quarter leading to low pricing. Costs for the second half of the year could be more unpredictable and may possibly require higher pricing, he acknowledged.
On a unit basis, Taylor projects growth would be in the 20- to 30-percent range.