Share this article

print logo


The Goodyear Tire & Rubber Co. said Thursday that earnings fell 45 percent in the third quarter, reflecting slow sales exacerbated by the Sept. 11 terrorist attacks.

"Because of a general economic slowdown, market conditions were tough in many regions during the quarter," said Sam Gibara, chairman and chief executive. "In September, industry volumes in our key markets were off markedly."

Gibara said Goodyear did pick up market share in the North American consumer replacement tire market related to the replacement of Firestone tires on Ford Motor Co. vehicles.

Goodyear earned $9.3 million, or 6 cents per share, in the quarter ended Sept. 30 compared with $17 million, or 11 cents per share a year ago.

Sales totaled $3.68 billion, up 1 percent from $3.62 billion a year ago. The company credited a change in product mix toward higher-priced tires and price increases in the replacement market.

Goodyear owns Amherst-based Goodyear Dunlop Tire North America.

There are no comments - be the first to comment