SOUTHFIELD, Mich. (May 3)—Federal-Mogul Corp. posted a net loss of $25.6 million on sales of $1.35 billion during the first quarter ended March 31. That compares to a net loss of $62.2 million on sales of $1.45 during the same period of last year. Sealing Systems sales were $250 million or 18.5 percent of Federal-Mogul's total sales. Original equipment sales declines were partially offset by increased sales of Fel-Pro gaskets in the aftermarket, the supplier said. Federal-Mogul is moving forward with operational improvements, including "investing strategically in plants and equipment," said Frank Macher, CEO and chairman, in a release.
Federal-Mogul loss narrows in first quarter
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