Goodyear reported a revenue of $5.68 billion in the fourth quarter of last year.
the financial report released by g3. oodyear Tire Rubber Co. on Tuesday showed that thanks to a 12% increase in operating revenue, the company successfully turned losses into profits in the fourth quarter of last year
Goodyear, headquartered in Ohio, USA, reported a net profit of $18million, or 7 cents per share, in the fourth quarter of last year, according to the financial report of Goodyear, a supplier of recycled plastic granulator equipment; In the same period of 2010, Goodyear recorded a net loss of $177million, or 73 cents per share. In addition, Goodyear achieved an operating revenue of $5.68 billion in the fourth quarter of last year, a significant increase from $5.07 billion in the same period in 2010
Goodyear's financial report also showed that the company's tire sales fell by 5% in the whole fourth quarter. The company also expects that the tire sales in 2012 will be basically the same as that in 2011
the financial results of Goodyear failed to meet the expectations of market analysts. According to factsetresearch, analysts' average expectation for Goodyear's fourth quarter net profit per share was 20 cents, while the average expectation for the company's current operating income was 5.86 billion US dollars
Goodyear's financial report also showed that after excluding the factors of exchange rate changes, the company's sales revenue per tire increased by 19% in the fourth quarter of last year. In the short term, Goodyear expects the global tire industry to continue to grow, but the growth rate will slow down compared with the previous period
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