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Lower sales, higher cost cut into Cooper Tire's earnings

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    Cooper Tire & Rubber Co. in Findlay said that lower sales and significantly higher raw material costs cut into its second quarter earnings.

    THE BLADE/DAVE ZAPOTOSKY
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    Mike Bryan, a tire Inspector with Cooper Tire, right, shows Maria Debord, 13, center, how to quality check a tire during an educational careers day in Findlay.

    The Blade/Katie Rausch
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FINDLAY — Cooper Tire & Rubber Co. said Friday that lower sales and significantly higher raw material costs cut into its second quarter earnings.

Cooper reported a profit of $45 million, or 85 cents per share, for the quarter. That was down from $71 million, or $1.27 per share, for the same period last year.

The company said total net sales were down 2.6 percent to $721 million. It reported a steeper, 6 percent decline in the Americas, while international sales were up 22 percent. Cooper said its raw materials costs in the quarter increased $60 million from last year.

Cooper’s shares rose 35 cents Friday to close at $36.35 on the New York Stock Exchange.

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