Boyds Wheels Expecting 1st-Quarter Loss
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STANTON — Boyds Wheels Inc. expects to report a first-quarter loss of about $1.5 million as a result of facilities expansion and lower-than-expected sales.
In the first quarter ended March 31, 1996, the company earned $360,000, or 14 cents a share, on sales of $5.3 million.
Boyds Wheels said orders in the first quarter rose 30% from last year, but the company said it expects to ship a large portion of these orders in the second quarter.
The company also said it was competing with “unusually strong” sales in last year’s first quarter as a result of a large backlog of shipments that had accumulated because of manufacturing inefficiencies at the time. The company has increased its manufacturing facilities by about 50%.
Boyds Wheels, which designs, manufactures and markets aluminum wheels and related products for the specialty automotive and motorcycle aftermarkets, said it expects to release first-quarter financial results on Thursday.
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