Collins & Aikman takes third-quarter loss

TROY, Mich. (Nov. 8)—Collins & Aikman Corp. reported a net loss of $12.4 million for the third quarter ended Sept. 30, a 158-percent decline from the $4.8 million loss it took during the same quarter of 2000. Net sales for the quarter increased 1.8 percent to $430.4 million. The slightly higher sales reflect increased business associated with Collins & Aikman's recent acquisitions of Becker and Joanne Automotive Fabrics. But the 7-percent reduction in North American vehicle production during the quarter, launch costs for new programs, customer price reductions and a non-recurring loss due to the sale of a European metal stamping operation pulled earnings down, the automotive supplier said in its earnings release.