Could also be a tire that is out-of-round. Happens sometimes even with new tires, I'm told. Visual inspection while it's on the balancer should clear that up.
'98 SVT KKM / TH fix / Mobil 1 / Synth tranny cocktail / JVC LX-30 HU / 10" JL sub / Alpine V12 amp / Panther 199 wheels / Kuhmo Ecsta 215/45/17 / Bosch +4 / Ford Motorsport wires