Bandag’s Earnings Up; Sees Trucking Activity Improving
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Bandag said it continued to invest in its Speedco unit’s expanding operations, building new on-highway truck lubrication and tire service locations and adding tire-service lanes at existing locations.
ire retreader Bandag Inc. reported earnings of $6 million or 30 cents a share for the first quarter, compared with $4 million or 20 cents a year ago.
The results “reflected the growing strength in the North American trucking industry,” Bandag’s Chief Executive Officer Martin Carver said in a statement.
The company’s net sales increased 8% to $186.6 million for the quarter.
Speedco’s sales increased by $10.8 million for the quarter. Its 2004 sales were included from Feb. 13, 2004, when Bandag acquired Speedco.
