Cooper Tire & Rubber Co. (CTB - Free Report) announced that its latest product Discoverer HT3 tire family is now available with the dealers across the country. Discoverer HT3 is a smart option for business owners and it occupies about 96% of the light truck highway market share.
Cooper’s Discoverer HT3 tire is equipped with modern technology such as silica infused tread compound and full depth 3D micro-gauge siping. This helps in improving the performance of the truck on highways. Discoverer HT3 also features a continuous shoulder rib, which provides better resistance to irregular wear and ensures less noise during a ride.
The HT3 tire is offered in R and S speed ratings and comes in 17 sizes varying from 15- to 18-inch rim diameters. It can be used in light trucks and small fleet delivery vehicles for highway or commercial driving. The small fleet delivery vehicles include Sprinter, Ford Motor Company’s (F - Free Report) Ford E-Series, Ram Cargo, General Motor Company’s (GM - Free Report) Chevy Express and Nissan Motor Co. Ltd.’s (NSANY - Free Report) Nissan NV Cargo vans.
Cooper Tire posted earnings of 55 cents per share in the second quarter of 2013, down 33% from 82 cents in the prior-year quarter. The results lagged the Zacks Consensus Estimate of 89 cents by a substantial margin. Net earnings also declined significantly to $35 million from $52 million in the second quarter of 2012.
Revenues of Cooper Tire fell 16.5% year over year to $884 million in the second quarter of 2013, missing the Zacks Consensus Estimate of $986 million.
Cooper Tire currently carries a Zacks Rank #5 (Strong Sell).