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Bandag Tallies Quarterly, Annual Results

Published Thursday, March 01, 2001

Bandag Inc has announced consolidated net earnings of $14.8 million for the quarter ended Dec 31, 2000, compared with fourth-quarter-1999 net earnings of $8.1 million. Fourth-quarter-1999 results included nonrecurring charges - net of tax benefits - of approximately $7.7 million for restructuring costs, principally in the North American operations of Bandag's retread business. Consolidated net sales for fourth-quarter 2000 declined 4% to $252.7 million, compared with $263.2 million in the same quarter of 1999. For the full year, Bandag reported consolidated 2000 net earnings of $60.3 million on consolidated net sales of $996.1 million. This compares with 1999 ...

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