Cooper Tire posts a profit

Cooper Tire & Rubber Co. posted a profit for the fourth quarter, and for all of 2013, despite its takeover troubles last year.

Profits did deflate last quarter by 73 percent, to $19.6 million, because of cheap Chinese tire imports and troubles at a Cooper joint venture plant in China.

Earnings in the October-December quarter amounted to 31 cents per share, the company reported Friday.

“There was a lot of uncertainty going into the quarter regarding the earnings, and they were better than expected,” said Kirk Ludtke, managing director for CRT Capital Group, Stamford, Conn.

Cooper Tire stock rose nearly 7 percent on Friday, closing at $24.36.

Business reporter Lou Wilin will have more on Saturday.



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