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Germany's Continental posts euro1 billion Q3 loss

Germany's Continental posts euro1 billion Q3 loss

German car parts and tire maker Continental AG on Thursday reported a euro1 billion ($1.5 billion) loss for the third quarter as lower auto sales pinched demand for its products.
The loss in the July-September period compared with a profit of euro2.4 million a year earlier.
Continental, based in Hannover, said revenue dipped, too, to euro5.3 billion in the quarter compared with nearly euro5.9 billion in 2008.
For the first nine months, Continental reported a net loss of euro1.5 billion compared with a profit of euro363.5 million. Revenue fell to euro14.4 billion from euro19.1 billion in the January-September period of 2008.
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On the Net:
http://www.conti-online.com