Improved Figures For Hayes Lemmerz

Hayes Lemmerz has released figures for fiscal 1Q, ending April 30th. Net sales rose 5.9 per cent to $515.

3 million (1Q 2002: $486.7 m). Earnings from operations were $1.

3 million, against a loss of $14.6 million a year earlier. The company recorded a net loss for 1Q of $22.

6 million, compared with a net loss for 1Q in the prior year of $587.4 million, although this included a net charge of $555.4 million, resulting from a change in accounting principle.

Without this, the 1Q net loss for 2002 would have been $33.0 million..