Goodyear posts sales record in 1st quarter

Goodyear Tire & Rubber Co.’s focus on high-end products helped it
set a company sales record for any quarter and reverse a loss from the first quarter of 2010.
 
Goodyear reported Friday that it earned $103 million, or 42 cents per share, on revenue of $5.4 billion. That easily beat Wall Street estimates of 12 cents and $4.89 billion.
 
In the first quarter of 2010, Akron-based Goodyear lost $47 million, or 19 cents a share, on revenue of $4.3 billion.
 
Goodyear sold almost 7 percent more tires in the January-March
period over the first quarter of 2010 and its per-tire revenue was up 15
percent, reflecting a goal of developing high-performance products.
 
First-quarter revenue was aided by chemical sales in North America
and currency exchanges.