OKC-Based Manufacturing Co. Posts $4.5 Million Net Loss

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CMI posted a net loss of $4.5 million, or 21 cents per share, for the first quarter.

That was down from a loss of $1 million, or 5 cents per share, the prior year. Revenues dropped 17.6 percent to $55.4 million from $67.3 million the prior year. The 2000 results had benefited from $8.3 million in orders not recognized in the fourth quarter of 1999.

We had expected to be much closer to break even for the quarter, said Company Chief Executive Bill Swisher, but several factors restrained our progress. First, our financing expense for the quarter was $3.7 million compared to $2.1 million for the first quarter of 2000. Second, expenses for utilities crossed the …