Cooper Tire makes small net loss; worker action hits earnings

|About: Cooper Tire & Rubber Co. (CTB)|By:, SA News Editor

Cooper Tire & Rubber's (CTB) FQ3 net loss $168,000 vs a profit of $74M a year earlier.

EPS zero vs $1.17.

Sales $832M vs $1.1B and forecasts of $836.35M.

Operating profit $27.8M vs $129.6M.

Industrial action in China hurt operating profit by $29M, while the aborted merger with India's Apollo Tyres cost $5M.

Cooper reiterates that it expects positive operating profit and net income in FQ4, and year-end cash and cash equivalents approaching $400M. (PR)