Titan posts first-quarter loss

QUINCY, Ill. (April 25)—Tire and wheel maker Titan International Inc. reported a net loss of $2.87 million on sales of $123.7 million during the first quarter ended March 31, 2002. In the like period in 2001, the Quincy-based firm had earnings of $228,000 on sales of $136 million. Maurice Taylor Jr., Titan CEO and president, said the year-over-year sales decrease reflects the general economic downturn, but company inventory levels have continued to drop while "efforts to streamline administrative costs are taking hold." As the economy strengthens, Titan will be "ready to respond" to customers´ increased orders, Taylor said.