Cooper sales and profits fall in Q2
Cooper Tire & Rubber’s second quarter 2013 results – most likely the last it will post before its incorporation into Apollo Tyres – showed a year-on-year drop in net sales, operating profit and net income. Net sales amounted to US$884 million, a decrease of $174 million compared with the same period a year ago, and operating profit for the second quarter was $69 million, $26 million lower year-on-year and 7.8 per cent of net sales. Net income was $35 million, or $0.55 per share, down from $52 million, or $0.82 per share, for the same period last year.