Bridgestone Posts Jump In Q4 Profit

Bridgestone (OTC: BRDCY) reported a strong rise in its net profit for the fourth quarter.

Bridgestone's quarterly net profit surged to 55.7 billion yen ($592 million), from Y21.0 billion, in the year-ago quarter. However, analysts were expecting a net profit of Y80.8 billion.

Its sales climbed 3.0% to Y813.4 billion from Y789.9 billion.

Bridgestone projects 2013 net profit to rise 37% to Y235 billion and sales of Y3.550 trillion.

Bridgestone shares closed at $53.45 on Friday.