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Cooper Tire reports record profits, lower sales

Reported by: Mel Carlock
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Updated: 5/09/2013 11:38 am
FINDLAY, Ohio (WTVA) -- Cooper Tire & Rubber Company says sales are down but operating profits are up in the first quarter of 2013.

The company, with a manufacturing facility in Tupelo, reports net sales of $862 million, down $123 million compared to the same period in 2012.

The company says they did reach record operating profit of $97 million during the first quarter, doubling last's years first quarter numbers.

The increase comes mostly from North American operating profits that increased $49 million over last year.

Sales and shipments of North American tire operations were down 14% when compared to 2012.

The company reports net income $56 million, or 87 center per share, during in the first quarter.

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