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Cooper Tire tops, costs rising

The car and truck tire company said Q4 EPS more than doubled to $1.15, beating views by 30 cents on successful new product launches and lower raw material costs. Raw material prices fell 2% from Q3 to Q4. Sales rose 2% to $1.06 bil, topping estimates for $1.03 bil. Cooper Tire (CTB), however, issued "cautious optimism" for '13 due to concerns rising raw material costs could curb profits. Cooper's N. American sales rose 5% during the quarter, but int'l sales fell 9% to $342 mil. Shares rose 2.5% to 26.03.