Cooper Tire & Rubber Company to Report Higher Than Expected Earnings

13 April 2000

Cooper Tire & Rubber Company to Report Higher Than Expected Earnings

    FINDLAY, Ohio--April 13, 2000--Cooper Tire & Rubber Company (NYSE:CTB) today announced it expects to report earnings that significantly exceed analyst estimates for the first quarter of 2000. Sales are expected to approximate $922 million and earnings per share are anticipated in the 41 to 43 cent range. Current First Call consensus estimate is 35 cents per share. Management said first quarter results will exceed even its own earlier expectations due primarily to extremely high sales volumes in both the Tire Group and Automotive Group late in the quarter. The Company expects to release first quarter results on April 19th.
    Commenting on the quarterly results, chief operating officer Thomas A. Dattilo said, "We are pleased with the strong demand for our products and with the higher-than-expected sales in March. We have been operating at extremely high production levels to keep up with demand. Capacity utilization has been very good and has, in turn, reduced our marginal production costs over the reporting period. Synergies from the integration of Standard and Siebe operations were also higher than anticipated in the quarter."

    Company Description

    Cooper Tire & Rubber Company is headquartered in Findlay, Ohio and specializes in the manufacture and marketing of automotive products. Products for Cooper's tire group include automotive, motorcycle and truck tires, inner tubes, tread rubber materials and equipment. In the automotive group, Cooper is an original equipment supplier of sealing, trim, NVH control systems and fluid handling systems for the automotive industry in North America, Europe, Australia and South America. Other products for this group include rubber and plastic sealing components for the refrigeration industry in North America. Cooper has more than 25,000 employees and 77 manufacturing facilities in twelve countries. For more information, visit the Company's web site at: www.coopertire.com.

    Forward-Looking Statements

    This report contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995, regarding expectations for future financial performance, which involve uncertainty and risk. It is possible that the Company's first quarter financial performance may differ from expectations due to factors that develop through the completion of normal quarterly accounting processes.
    Further information covering issues that could materially affect financial performance is contained in the Company's periodic filings with the U.S. Securities and Exchange Commission.