MEMPHIS, TN — TBC Corp., one of the nation’s leading marketers of automotive replacement tires, reported record sales and earnings for the fourth quarter and year, which ended December 31, 2003.
Net sales in the fourth quarter increased 33.5 percent to $370.7 million, compared to $277.8 million in the prior-year period. Same store sales for TBC’s retail segment increased 4.5 percent in the fourth quarter. TBC’s total unit tire sales increased 10.7 percent in the fourth quarter, compared to a 2.2 percent increase in unit shipments by tire manufacturers based on preliminary reports. Net income increased 17.1 percent to $9.5 million, or $0.41 per diluted share, in the current quarter, versus $8.1 million, or $0.37 per diluted share, in the fourth quarter of 2002.
For more information about TBC, go to: www.tbccorp.com.
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