SEOUL, South Korea—Hankook Tire Co. Inc. suffered decreases of 7.4 and 11.2 percent in operating income and sales, respectively, for the second quarter of fiscal 2014.
Hankook, the world's No. 7 tire maker, did not elaborate on the reasons for the declines or provide any regional comparisons.
For the quarter that ended June 30, operating income fell to $243.8 million, down from 243.4 in the first quarter, but an increase from 241.8 million in the second quarter of 2013. Sales were $1.61 billion in the second quarter, up from 1.6 billion in the first quarter.
The ultra-high performance tire segment accounted for 30 percent of the company's consolidated quarterly sales, Seoul-based Hankook said.
For the half year, operating income slipped 4.3 percent to $496.3 million as sales dipped 6 percent to $3.24 billion. The operating result was up slightly to 15.3 percent.
Hankook recently broke ground for its new research and development center, Hankook Technodome, in Daejeon, Korea.