Feb 21, 2017
Cooper Tire & Rubber reported net income of USD 69.3 million and net sales reached USD 783.9 million for the fourth quarter 2016. This is somewhat higher than in the US tire manufacturer in the same period last year.
The ratio of profit to Cooper Tire sales amounted to 8.8% for the fourth quarter 2016, which is also above the 7.6% for the final quarter of the previous year. Operating income for the period increased by 2.5% - from USD 102.5 million to USD 105.1 million.
In general, the 2016 fiscal year net profit amounted to 248.4 million Cooper. $, And net sales reached 2.92 billion. $, Which gave the ratio of earnings to sales of 8.5%. For 2015, these figures were USD 212.7 million and USD 2.97 billion respectively.
During the year, operating profit of the company increased by 8.4% - up to USD 384.4 million and the margin of profit was a record 13.1%.
As explained by Chief Executive Officer and President of Cooper Brad Hughes (Brad Hughes), the company achieved record high operating profits in America, as well as a number of improvements in the international market.