Cooper Tire’s sales increased 17% in 2011

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Cooper Tire’s sales increased 17% in 2011
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Tuesday, February 28, 2012

# M8 }: B; O: y5 BFindlay, OH - Cooper Tire & Rubber reported net sales of $1.05 billion for the quarter ended Dec. 31, 2011, an increase of $126 million, or 14%, from the prior year. Operating profit was $60 million for the quarter, an increase of $5 million from the prior year same quarter. Net income from continuing operations attributable to Cooper Tire for the quarter was $209 million or $3.33 per share on a diluted basis. For the year ended Dec. 31, 2011, the company reported net sales of $3.9 billion, an increase of $566 million, or 17%, from 2010. The company reported net income of $4.02 cents per share from continuing operations on a diluted basis for the full year, including $2.66 per share from the release of the valuation allowance, compared with $1.86 for the same period of 2010.