Titan posts $34.8 million loss for 2001

QUINCY, Ill. (Feb. 22)—Tire and wheel maker Titan International Inc.'s profits and revenues dropped in 2001, as unfavorable economic and market conditions translated into a "difficult year" for the company. For the year, Titan posted a net loss of $34.8 million on sales of $457.5 million, the company announced Feb. 20. Earnings fell from the year before, when the Quincy-based firm reported net profits of $4.5 million. Sales for 2001 also were down 15.8 percent from $543.1 million in 2000. In the fourth quarter, Titan had a net loss of $21.5 million on sales of $100.6 million, both down from the net loss of $8 million and sales of $113.4 million posted in the year-earlier period.