AKRON, Ohio -- The Goodyear Tire & Rubber Co. has reported improved tire unit volumes, sales and segment operating income, as well as a significantly smaller net loss in the first quarter of 2010, despite a one-time charge related to the currency devaluation in Venezuela.

"We are very pleased with our strong first quarter performance," said Richard Kramer, president and chief executive officer. "As markets around the world continue to improve, we are starting to see the benefits of the strategic actions we took last year, including our commitment to launch innovative new products during an economic downturn. The strategic actions contributed to strong growth in both sales and earnings, positioning us well as the global economy continues its recovery."

Kramer became Goodyear's president and CEO April 13, succeeding Robert Keegan, who remains with the company as executive chairman.

"As I take over the role as the company's CEO, I am optimistic about the tire industry and confident that Goodyear's brands, focus on innovation, leading distribution and excellent leadership team position us strongly for the future."

Kramer said his strategic priorities as CEO will include continuing to drive the company's innovation engine with new products; increasing operating efficiencies throughout the supply chain; improving earnings, especially in North American Tire; expanding growth in emerging markets; enhancing Goodyear's capital structure; and continuing to build its leadership team.

"I am confident that our focus on these priorities will enable Goodyear to gain from the recovery in industry volumes and help us overcome the challenges before us, specifically higher raw material costs," he said.

Goodyear's first quarter 2010 sales were $4.3 billion, up 21 percent from the 2009 quarter, and reflect the $399 million impact of a 14 percent increase in tire unit volume due to improved global demand and growth in emerging markets. Sales were also positively impacted by $224 million in favorable foreign currency translation and by $125 million from higher sales in other tire-related businesses, primarily third-party chemical sales in North America.

Goodyear's first quarter 2010 net loss was $47 million (19 cents per share), compared with a loss of $333 million ($1.38 cents per share) in the 2009 quarter. All per share amounts are diluted.

North American Tire's first quarter 2010 sales increased 15 percent from last year to $1.8 billion, reflecting a 9 percent increase in tire unit volume and strong price/mix performance. Original equipment unit volume increased 45 percent, primarily in the consumer business due to higher vehicle production.