Prestolite Electric Inc. and its parent, Prestolite Electric Holding, reported first quarter 2000 sales from continuing operations of $52.1 million with a net loss of $1.8 million. In fourth quarter 1999 the company posted a net loss of $4.6 million on sales of $51.4 million. First quarter 1999 net loss was $122,000 on sales of $53.9 million.
"Orders exceeded sales for the quarter and we have a number of new product introductions and sales initiatives scheduled which we believe will improve our sales as the year progresses," said president and CEO P. Kim Packard. "We are also being helped by our international markets which seem to be rebounding from their weak performance in 1999."