KOBE, Japan (Aug. 11, 2011)—Sumitomo Rubber Industries Ltd. suffered drops in operating and net income for the six months ended June 30 as sales rose 6.7 percent to $3.7 billion.
Operating and net income for the period fell 2.8 and 14.4 percent, respectively, to $244.2 million and $110.3 million.
Sumitomo did not comment on its performance during the period. Results were released in a quarterly “Flash Report” without commentary.
The firm's tire segment reported 17.2-percent better operating income of $222.4 million on 10-percent higher sales of $3.18 billion.
Calculating the firm's second quarter performance shows operating income down slightly and net income up slightly on 5.4-percent higher sales. The half-year results echo the firm's first-quarter report, when Sumitomo's operating and net income dropped on higher sales.
Sumitomo did not disclose sales and earnings by geographic region.