KOBE, Japan (Aug. 12, 2009) - Sumitomo Rubber Industries Ltd. fell $72.2 million into the red in the first half of fiscal 2009 as sales fell 19.2 percent to $2.41 billion.
The firm´s operating income fell 79.8 percent to $30.1 million, or 1.2 percent of sales. A year ago the operating ratio was 4.2 percent.
Sumitomo did not comment on its results or provide forecasts for the rest of the year.
The company´s domestic business fared marginally worse than the international activities, with sales down 26.5 percent.
Sumitomo´s tire division fell $25.1 million into red on an operating basis as sales fell 19 percent to $1.95 billion.
Sales in North America fell 19.8 percent to $388.2 million, the firm reported.