Feb 8 Goodyear Tire & Rubber Co, the
largest U.S. tire maker, reported a 7.9 percent decline in
quarterly sales on Wednesday, as it shipped fewer tires in the
Americas, its biggest market.
Goodyear reported a net income of $561 million, or $2.14 per
share, in the fourth quarter ended Dec. 31, compared with a loss
of $380 million, or $1.42 per share, a year earlier.
On an adjusted basis, Goodyear earned 95 cents per share.
Last year's loss included items related to the
deconsolidation of the Goodyear's Venezuelan unit.
Net sales fell to $3.74 billion from $4.06 billion.
Goodyear said it expects flat segment operating income in
2017 compared with 2016, partly as raw material costs continue
(Reporting by Arunima Banerjee and Ankit Ajmera in Bengaluru;
Editing by Martina D'Couto)