November 9, 2006 10:20 AM, EST

Goodyear Posts $48 Million Loss in Third Quarter

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oodyear Tire & Rubber Co. on Thursday reported a net loss of $48 million or 27 cents a share in the third quarter, compared with a profit of $142 million or 70 cents a share in 2005.

The third quarter loss includes $126 million in restructuring charges, of which $107 million are related to the closure of the company’s Tyler, Texas facility. (Click here for previous coverage.)

Goodyear’s net sales rose to $5.3 billion from $5 billion a year ago, the tire maker said in a statement.

The company’s operating income slipped to $313 million, down 5% from the previous third quarter.

North American tire unit sales dipped by volume to 23.5 million from 26.6 million but rose to $2.43 billion from $2.37 billion a year ago.

In early October, members of United Steelworkers employed at Goodyear went on strike after the union and the tire maker failed to reach an accord on a new labor contract. (Click here for previous coverage.)