Q4 And Full Year Results For TBC
TBC Corporation, one of the USA’s largest aftermarket tyre distributors has announced record sales and earnings for the forth quarter and year ended 31st December 2002. Net sales rose 12 per cent in the last quarter to 277.8 million dollars, whilst net income increased 43 per cent to 8.
1 million dollars for the quarter. For the year, net sales increased 10 per cent to 1.1 billion dollars with net income increased by 30 per cent to 27.
4 million dollars.Larry Day, President and Chief Executive Officer said. “Within our retail network, we exceeded our new store growth objective by 33%, exclusive of acquisitions, and ended the year with 222 Tire Kingdom locations and 536 franchised Big O stores.
Sales of our proprietary branded tyres at our retail locations reached record levels in 2002 and underscore the progress we have made in positioning the Company as a fully integrated tyre marketer. Our wholesale business performed well in the fourth quarter and throughout the year as it benefited from new product introductions as well as from our success in differentiating our product line within the marketplace.”.