TOKYO (May 10, 2010)—Bridgestone Corp. returned to the black in the quarter ended March 31 as sales shot up 16.1 percent on business recovery in most of the firm's markets.
Bridgestone reported operating and net income of $396.6 million and $194.3 million, respectively, for the first quarter, despite rising costs for raw materials.
Sales rose to $7.26 billion as the company reported double-digit sales gains in all of its geographic regions, including the Americas, where revenue increased 11.2 percent to $3.07 billion. The Americas business unit posted operating income of $128.9 million after barely breaking even last year.
The tire segment reported an operating profit of $364.5 million on sales of $6.03 billion as unit sales “greatly exceeded” those of the prior year quarter in nearly all regions, Bridgestone said.