Cooper Tire & Rubber Co. (CTB) - Get Report burned up analysts' forecasts with the company's fourth-quarter and full-year earnings, pushing shares higher in premarket trading.

The Findlay, Oho-based company reported a loss of $419,000 or 1 cent a share, vs. a loss of $42.2 million, or 82 cents, in the year-earlier period.

However, excluding a "goodwill impairment" charge related to a joint venture agreement with Sailun (Vietnam) Co. to build a new truck and bus radial tire production plant in Vietnam, per-share earnings would have been 66 cents, the company said.

Analysts surveyed by FactSet had expected per-share earnings of 57 cents a share. Revenue for the quarter came in at $770 million vs. the consensus estimate of $773.82 million.

"As stated at the beginning of 2018, we expected operating margin improvement throughout the year, and we delivered on this expectation as our strategic initiatives took hold," Cooper Tire CEO Brad Hughes said in the earnings statement.

For the full year, Cooper Tire reported net income of $77 million, or $1.51 a share, compared with $95 million, or $1.81 a share, the year before. Excluding the same goodwill impairment charge, per-share earnings would have been $2.18.

Shares of Cooper Tire rose more than 2% to $35 in premarket trading on the New York Stock Exchange after ending the day Friday at $34.06.

U.S. markets were closed on Monday for Presidents Day.