The largest US tire maker Goodyear Tire Rubber Company (Goodyear Tire & Rubber Co.) recently said that the company's 2011 first quarter results swung to a record high revenues. According to data released by Goodyear, the company’s net profit for the quarter was US$103 million, and its revenue reached US$5.4 billion, a year-on-year increase of 27%, setting a record for the company’s single-quarter revenue.
According to relevant data, the total sales of the company’s tires reached 46.8 million in the quarter, up by nearly 7% year-on-year. In the first quarter, the company's sales reached 219 million US dollars.
Richard J. Kramer, Goodyear’s chairman and chief executive officer (CEO), said: “The improvement in North American performance is an important support for the company’s 2013 goals.â€
It is reported that the company’s North American tire division’s revenue in the first quarter rose by 30% to US$2.3 billion. The tire sales in North America rose by 13%. In addition, the company’s European-Middle East-African regional business unit’s revenue rose 28%, Latin America rose 22%, and the Asia-Pacific region rose 14%.
In the same period of last year, Goodyear suffered a loss of 47 million U.S. dollars and revenue was 4.3 billion U.S. dollars.
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