Tyre firm Goodyear today reported a fourth-quarter net loss of $434.4 million, or $2.49 per share, compared to a net loss of $1.2 billion, or $6.96 per share a year ago.
Fourth-quarter charges totaled $2.04 per share on after-tax rationalization, accelerated depreciation and asset write-offs. The company lost 45 cents per share excluding charges.
A survey of analysts by Thomson First Call forecasted a loss of 22 cents per share. Sales climbed to $3.91 billion, up from $3.51 billion. Goodyear also restated its past results based on accounting changes announced last October.
The company expects to report "strong" first quarter performance relative to the first quarter of 2003, "driven by price and mix improvements as well as cost reductions," Goodyear said.