Titan International Touches New High On Turning To Q4 Profit

(RTTNews) - Shares of off-the-road tires maker Titan International, Inc. (TWI) are rising more than 11% Thursday morning after the company turned to profit in the fourth quarter driven by strong sales growth.

The company posted net income of $27.6 million or $0.44 per share in the fourth quarter compared with net loss of $17.21 million or $0.28 per share a year ago.

Excluding one-time items, earnings were $0.39 per share.

Net sales for the quarter increased 49% year-over-year to $487.7 million.

TWI, that touched a new high of $13.73 this morning, is currently trading at $13.