Bandag Reports Decline in North American Sales for Fourth Quarter - aftermarketNews

Bandag Reports Decline in North American Sales for Fourth Quarter

MUSCATINE, IOWA — Bandag Inc. reported consolidated net sales for fourth quarter of 2006 of $253.7 million, compared to consolidated net sales of $252.3 million in the fourth quarter of 2005, an increase of 1 percent.

But, the company’s North American business unit volume decreased 12 percent, compared to the fourth quarter of 2005, and net sales decreased 8 percent.

Consolidated earnings from operations were $11.2 million, or 57 cents per diluted share, for the fourth quarter of 2006, compared to fourth quarter 2005 consolidated net earnings of $12.1 million, or 62 cents per diluted share, Bandag stated.

For the full year of 2006, Bandag reported consolidated net sales of $973.6 million, an increase of 6 percent from consolidated net sales in 2005 of $914.6 million. Consolidated earnings from operations for 2006 were $36.6 million, or $1.87 per diluted share, compared to consolidated net earnings of $49.5 million, or $2.52 per diluted share, in 2005.

“The combined effects of the buildup of new trucking equipment capacity, ongoing uncertainty in energy and raw material prices and continued slow freight volumes, particularly early in the fourth quarter, suppressed unit and sales volume in Bandag’s traditional retread business,” said Martin Carver, Bandag chairman, president and CEO. “Both Tire Distribution Systems Inc. (TDS), Bandag’s tire distribution subsidiary, and our Vehicle Services business unit, which includes Speedco’s on-highway truck lubrication business, delivered solid sales improvements. In Bandag’s traditional businesses, our 2006 business simplification efforts set the stage to contain operating costs and help counter generally slow growth in trucking freight volumes, particularly in North America.”

You May Also Like

Clarience Technologies Acquires Safe Fleet

The acquisition strengthens Clarience Technologies’ position in several industry segments and paves the way for cross-selling opportunities and increased innovation.

Clarience Technologies, a global provider of visibility and safety technology solutions for transportation, has acquired Safe Fleet, a safety solutions provider for fleet vehicles, reinforcing the company’s mission to enhance safety, security, and productivity for customers across the industry.

According to Brian Kupchella, CEO of Clarience Technologies, the acquisition of Safe Fleet provides critical technologies, vocational segment expertise and a portfolio of complementary safety products that support the company's vision to provide comprehensive solutions to a broader set of transportation customers around the world.

bproauto Launches Revised Aftermarket Parts Website

The expanded website includes search by part number or vehicle fitment, dealer locator, region selection tool for U.S., Canada and Mexico, and much more.

bproauto Aftermarket Parts Brand Launches Revised Website
Philips Releases GoPure Advanced Automotive Air Purifier

It filters out 99% of bacteria and respiratory viruses and fits in the cupholder.

Philips Releases GoPure Advanced Automotive Air Purifier
Valvoline Global Shares Growth Opportunities with Aramco

Now, the Valvoline brand is Aramco’s lubricant product retailer globally.

MPA Introduces New Brake-Related Product Part Numbers

The new part numbers are offered through QB, Quality-Built and Quality-Built Black Series brands powered by MPA.


Other Posts

FCS Introduces 18 New Numbers in February

The new release includes 4 shock absorbers and 14 suspension struts.

FCS Introduces 18 New Numbers in February
Victor Reinz Reinzosil Sealant Added to Spicer CV Service Kits

Victor Reinz Reinzosil vulcanizing silicone boosts resistance to various fluids, making it sensor-safe for a wide range of applications.

Victor Reinz Semi Truck Reinzosil
Tenneco Introduces Add-On Valve Technology 

The company says the RideRefine SDD valve brings new levels of versatility, tunability and comfort to passive damper performance.

Valvoline Ushers in New Era of Environmental Stewardship

Valvoline is providing solutions for ICE vehicles to be as clean and long-living as possible to benefit the environment of today and tomorrow.