net sales Archives - Page 3 of 8 - Tyrepress

Posts

Bridgestone Revises 2009 Financial Projections

A number of revisions to Bridgestone Corporation’s consolidated financial projections for 2009 have been announced. Changes to the figures released on November 5, 2009 have been based upon recent performance trends and the company’s assessment of the global economy during the year. After reviewing these two factors, on February 12 Bridgestone announced a revised projected operating income of 75,000 million yen (₤533.9 million), 15,000 million yen higher than its November 5 figure. Ordinary income has been upwardly revised from 29,000 million yen to 54,000 million yen (₤384.5 million) and net income has been revised from a loss of 10,000 million yen to a profit of 1,000 million yen (₤7.1 million). Projected net sales, at 2,590,000 million yen (₤18.4 billion), remain unchanged.

12th February 2010/by Tyrepress Editors

Myers Sees Losses in Third Quarter

(Tire Review) Rubber, plastics and metal manufacturer, Myers Industries, Inc. reported net sales from continuing operations for the third quarter, ending 30 September, were $165.4 million, a decrease of 17 per cent compared to $199.9 million in the third quarter of 2008. The company cited continued weak economic conditions for the loss. Myers reported a net loss of $5.3 million in the third quarter compared to net income of $1.3 million in the third quarter of 2008, both including results from discontinued operations, as well as special expenses of $5.8 million in 2009 and $2.6 million in 2008.

23rd October 2009/by Tyrepress Editors

Yokohama Rubber Revises Projected Loss

On September 25 Yokohama Rubber let it be known that its projected consolidated net loss for the first half of the current fiscal year is now smaller than previously anticipated. Projections for the six months from April 1 to September 30, 2009 have been whittled down from the 8.0 billion yen announced on May 12 to 5.0 billion (£33.9 million).

25th September 2009/by Tyrepress Editors

Accuride Posts $36.1M Net Loss in Q2

The prolonged weakness within the commercial vehicle segment continued to impact upon Accuride Corporation during the second quarter 2009. A statement released by the commercial vehicle component manufacturer and supplier reports net sales of US$135.2 million in the three months to June 30, as opposed to $244.9 million in the second quarter of 2008. Sales decreased in the company’s wheels and components segments by 48.4 per cent and 42.6 per cent respectively.

11th August 2009/by Tyrepress Editors

Ceat Sales, Profit up in Last Quarter

During the quarter ending June 30, 2009 Ceat Limited received net sales totaling Rs 6.796 billion (£86.5 million), an increase of 1.51 per cent on the same period in 2008. According to the company’s unaudited results, net profit for the quarter stood at Rs 602 million (£7.66 million), markedly up on the Rs 106.7 million loss for the quarter ending June 30, 2008.

27th July 2009/by Tyrepress Editors

Toyo Reports ¥10 Billion Net Loss for Financial Year

Financial data for the fiscal year ending March 31, 2009 show reduced net sales and a net loss at Toyo Tire & Rubber. The company’s net sales of 328,371 million yen (£2.08 billion) represent an 8.08 per cent decrease on the previous year’s results, while operating income decreased from 13,168 million yen in the year to March 31, 2008 to a 2,964 million yen (£18.81 million) loss in the most recent period. The company recorded a net loss of 10,722 million yen (£68.04 million) in the year ending March 31; the previous year net profit stood at 6,137 million yen.

8th June 2009/by Tyrepress Editors

Yokohama Rubber Posts Net Loss in Latest Fiscal Year

Yokohama Rubber Co., Ltd., has posted a net loss of 5.7 billion yen (£38.7 million) for the financial year ended 31 March 2009, compared with net income of 21.1 billion yen (£142.6 million) in full-year 2008. This came as a result of operating income declining 61.3 per cent, to 12.8 billion yen (£87 million), on a 6.2 per cent decline in net sales, to 517.3 billion yen (£3.5 billion). The company’ s Tire Group saw operating income plummet 62 per cent, to 9.9 billion yen (£67.4 million), on a 4.8 per cent decline in sales, to 399.7 billion yen (£2.7 billion).

12th May 2009/by Tyrepress Editors

Analysts Expect Nokian Q1 EBIT to Plummet

A Reuters poll of eleven analysts anticipates a 93 per cent drop in first quarter operating earnings for Finnish tyre manufacturer Nokian Renkaat. This massive decline is predicted due to much weaker demand. Pre tax and interest earnings for the January to March period are expected on average to fall to four million euros, contrasting strongly with the 54 million euros recorded in the same quarter last year. The mean prediction for net sales was a 32 per cent drop to 167 million euros, while a net loss of seven million euros is anticipated.

For the full year, the eleven analysts expect net sales of 886 million euros, an EBIT of 140 million and a net profit of 82 million euros. The company will release its results on May 7.

6th May 2009/by Tyrepress Editors

Reforecast Sees Toyo Sales Downwardly Revised

Toyo Tire & Rubber has made several revisions to its consolidated and non-consolidated performance forecasts for the fiscal year ending March 31, 2009. The company’s previous forecasts were announced on February 9, 2009. Consolidated forecast net sales for the year have dropped four billion yen to 328 billion (£2.3 billion), while operating income has been downwardly adjusted by a billion yen to minus three billion (-£21.2 million). Net income, now forecast to be minus 10.8 billion yen (-£76.4), is up from February’s estimate of minus 12.7 billion.

28th April 2009/by Tyrepress Editors

Projected Yokohama Net Losses Smaller Than Anticipated

It’s not all bad news out there – Yokohama Rubber has announced that its losses in the fiscal year to March 31, 2009, will be smaller than the projections announced on March 24, 2009. Management now projects consolidated operating income of 13.0 billion yen (£92 million), down 60.7 per cent from the previous fiscal year; and a consolidated net loss of 5.5 billion yen (£38.9), down from a consolidated net profit of 21.1 billion yen in the previous fiscal year; on consolidated net sales of 517.0 billion (£3.7 billion), down 6.2 per cent from the previous year. The revised projection for operating income 13.0 per cent higher, the revised projection for net loss 31.3 per cent less, and the revised projection for net sales 0.6 per cent lower than the projections announced on March 24.

28th April 2009/by Tyrepress Editors

Yokohama Rubber Lowers Annual Projections a Second Time

Projected sales and earnings for the fiscal year ending March 31, 2009 will be lower than previously announced, Yokohama Rubber has stated. Company management now projects consolidated net sales of 520.0 billion yen (£3.7 billion), down 5.7 per cent from the previous fiscal year; consolidated operating income of 11.5 billion yen (£82.1 million), down 65.3 per cent; and a consolidated net loss of 8.0 billion yen (£57.1 million), down from a consolidated net profit of 21.1 billion yen in the previous fiscal year. The revised projection for net sales is 0.6 per cent lower than the projection Yokohama announced on January 21; the projection for operating income 17.9 per cent lower; and the projected net loss is 1.0 billion yen (£7.1 million) larger.

24th March 2009/by Tyrepress Editors

Bridgestone Revises 2008 Fiscal Projections – Again

Finally, some good news from within the tyre industry. Bridgestone, which on January 29 revised its 2008 fiscal year financial projections, has done so again – but this time upwards. Net sales have, admittedly, been downwardly revised, by 20,000 million yen to 3,230,000 million yen (£23.77 billion). However operating income, now estimated to be 131,000 million yen (£964.15 million), has increased 11.0 per cent in the latest projection. Likewise, projected ordinary income has been upwardly revised to the tune of 15.6 per cent, and now stands at 74,000 million yen (£544.64 million). Net income jumps by a third to 10,000 million yen (£73.60 million).

10th February 2009/by Tyrepress Editors

Toyo Results Highlight Financial Difficulties

Toyo Tires has released its consolidated business results for the first three quarters of the 2008 financial year, revealing results down on those a year earlier. Net sales for the nine month period were 269,357 million yen (£1.98 billion), just under one per cent less than for the first three quarters of the 2007 year. Operating income, at 611 million yen (£4.5 million), plummeted 95.3 per cent from last year’s figure of 12,951 million yen, and net loss for the nine month period amounted to 9,990 million yen (£73.57 million) as opposed to 6,946 million yen in 2007.

9th February 2009/by Tyrepress Editors

Yokohama Rubber Lowers Sales and Earnings Projections

Yokohama Rubber has downwardly revised its sales and earnings projections for the fiscal year to March 31, 2009. Company management now projects consolidated net sales of 523.0 billion yen (£4.2 billion), down 5.2 per cent from the previous fiscal year; consolidated operating income of 14.0 billion yen (£113 million), down 57.7 per cent; and a consolidated net loss of 7.0 billion yen (£56.5 million), down from a consolidated net profit of 21.1 billion yen in the previous fiscal year. The revised projection for net sales is 6.1 per cent lower than the projection Yokohama announced on November 12, 2008; the projection for operating income 46.2 per cent lower; and the projection for net income 16.5 billion yen (£133.2 million) lower. Management is reconsidering the year-end dividend of 7 yen that it had planned to recommend.

22nd January 2009/by Tyrepress Editors

Revised Bridgestone Financial Projections Reflect Global Slowdown

Bridgestone Corporation reports that the financial crisis and resultant global economic slowdown has created a necessity for it to revise the consolidated financial projections for the fiscal year ended December 31, 2008 that were originally announced on August 8. These downward changes have mostly been caused by decreasing tyre sales in Europe and North America, the company says.

22nd December 2008/by Tyrepress Editors