Titan sales rise 2 percent in 2005, despite loss in Q4

Quincy, Illinois - Titan International, Inc. reported a small increase in sales for the 12 months to December 2005. Likewise, profits rose very sightly, despite making a loss in the fourth quarter.

The company said net sales for 2005 were $470.1 million, up 2 percent from $461.1 million for 2004 on a pro forma basis, adjusted for the sale of Titan Europe in April 2004.

In terms of profit, Titan said net income for 2005 was $11.0 million compared with $11.1 million a year earlier. For the three months ended December 2005, Titan made a net loss of $5.5 million, compared to $1.3 million lost in the fourth quarter of 2004.

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press releasefrom Titan