UPDATE 1-Cooper Tire and Rubber 4th-qtr profit rises

Newswire

Feb 27 (Reuters) - Cooper Tire & Rubber Co, which makes tires for passenger vehicles and light trucks, posted higher fourth-quarter profit, helped by a one-time tax-related gain. For the October-December quarter, the company's net income from continuing operations jumped to $209 million, or $3.33 a share, from $40.2 million, or 64 cents a share, a year ago. During the quarter, the company said, the release of its valuation allowance against U.S. deferred tax assets boosted its net ...

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