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.