Goodyear Reports Q4 Net Loss Despite Record Sales
Goodyear has reported a fourth quarter net loss of $51 million for 2005, compared with the previous year period’s net income of $125 million. This year’s lower result was put down to losses caused by the sale of the company’s farm tyre unit. Despite the losses the company recorded sales of $4.9 billion in the fourth quarter and a full-year sales record of $19.7 billion. According to the company, sales benefited from improved pricing and product mix and higher volume in the international tyre businesses, while the effect of currency translation reduced sales by approximately $107 million in the quarter.