From Tire Review

HANOVER, Germany – Continental AG posted improved results for the first quarter of 2011, racking up sales of 7.3 billion euros (approximately $8.3 billion) for the period.

That result was up about 20 percent year-over-year, and well ahead of analyst estimates.

Pre-tax profits for the quarter reached 634 million euros (approximately $940 million), Continental reported.

“2011 began as we expected, despite the natural disaster in Japan and its aftermath,” CEO Elmar Degenhart said. “In face of the ongoing challenges, especially those presented by high raw material prices, we anticipate at this point in time that we will comfortably achieve the targets we have set ourselves for this year. This is not, however, a sure-fire thing, but will require hard and dedicated work.”