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Cooper Tire to post 1Q results below Wall Street estimates

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April 25, 2008

FINDLAY, Ohio—Cooper Tire & Rubber Co. says its first-quarter earnings will come in well below Wall Street estimates.

The Findlay, Ohio-based tire company said Friday that the cost of raw materials, increased charges for product liability claims and lower shipments are to blame for the reduced outlook.

Analysts surveyed by Thomson Financial were expecting earnings of 20 cents a share for the quarter ended March 31.

Findlay is expected to post its results May 7.

Cooper shares fell 13 percent to a new 52-week low of $13.08 Friday. The shares have been as high as $28.50 in the past year.

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On the Net: http://www.coopertire.com

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