MUSCATINE, IOWA — Bandag has reported consolidated net earnings of $11.9 million, or 60 cents per diluted share, for second quarter 2004, compared to second quarter 2003 consolidated net earnings of $8.7 million, or 45 cents per diluted share. This represents an increase of 37 percent and 33 percent for consolidated net earnings and diluted earnings per share, respectively.
Consolidated net earnings for second quarter 2004 included favorable tax adjustments of $1 million, or 5 cents per diluted share, resulting primarily from the what the company said was the reassessment of certain tax matters. Consolidated net sales for second quarter 2004 were $211.1 million, an increase of approximately three percent compared to second quarter 2003 consolidated net sales of $204.1 million.
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