Bridgestone revises '09 profit forecast upward

ERJ staff report (TB)

TOKYO (Aug. 7, 2009) - Bridgestone Corp. is revising upward its financial projections for the remainder of fiscal 2009 based on the success of internal cost-reduction initiatives and its assessment of the global economy.

After earlier projecting its net result would be break-even and operating income would be 2.1 percent of sales, Bridgestone now expects net income of yen 6000 million (Euro 44.38 million)) and operating earnings of yen 61 000 million (2.3 percent of sales).

At this performance level, operating and net income would be down about 54 and 42 percent, respectively, from fiscal 2008.

The firm's sales projection remains essentially unchanged at about yen 2.61 million million.

From Tire Business (A Crain publication)

Press release from Bridgestone