Cooper Tire has a net profit of $15.7 million in the first quarter

US Cooper Tire & Rubber Company (Cooper Tire & Rubber Co.) recently said that due to the North American market demand, the company's 2011 first quarter net profit exceeded expectations, reaching $ 15.7 million. The figure for the same period in 2010 was US$ 11.6 million.

At the same time, Cooper reiterated its expectation that the company's 2011 production growth will remain unchanged at 10%. In addition, the company also expects that the price of raw materials such as natural rubber may decline in the third quarter of this year.

Cooper said that the company’s first-quarter sales rose 20% to $906 million. Among them, the North American tire business revenue rose 22% year-on-year, accounting for more than 70% of the company's total revenue.

According to a survey by Thomson Reuters I/B/E/S, analysts had previously estimated the company’s average revenue of 910 million U.S. dollars.

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