Cooper Tire Takes 2Q Loss on Costs, Strike Impacts

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ooper Tire & Rubber Co. reported a second-quarter loss of $6.9 million or 11 cents a share, compared with a profit of $34 million or 45 cents a year earlier.

The company cited lasting effects of a strike that ended in April at its Arkansas plant and rising raw materials costs as factors in the loss.

Cooper said increased raw materials costs would be a challenge this year forecast third-quarter earnings of 10 cents to 14 cents a share, including a charge of 8 cents due to the strike’s impact.

Net sales rose to $511 million from $509 million in the second quarter of 2004, while sales for its North American tire operations rose 1%, to $460 million.