Titan Announces Positive First Quarter 2010 Results

Press Release Source: Titan International, Inc. On Monday April 26, 2010, 6:01 am EDT
QUINCY, Ill.--(BUSINESS WIRE)--Titan International, Inc. (NYSE: TWI - News):

First quarter summary:

• Net income for the first quarter was $2.1 million, or $.06 per diluted share, compared to $7.0 million, or $.20 per diluted share, in the first quarter of last year.
• Sales for first quarter 2010 were $196.4 million, compared to $232.6 million in the first quarter of 2009.
• Gross profit for first quarter 2010 was $26.1 million, compared to $30.1 million in 2009.
• First quarter income from operations was $10.1 million, compared to $14.1 million last year.
• Interest expense was $7.1 million for the first quarter, compared to $3.9 million in 2009.
• Titan’s cash balance was $215.2 million at March 31, 2010, compared to $20.2 million at March 31, 2009.

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