Hayes Lemmerz Reports 2004 Loss in Part on High Steel Prices

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ayes Lemmerz International Inc. said Friday it lost $62.3 million or $1.66 a share for 2004, compared with a loss of $46.5 million or $1.55 in 2003.

The company makes automotive and commercial highway wheels, brakes, power train, suspension and other components.

Hayes Lemmerz said its sales rose 9.1% to $2.24 billion, due to strong demand overseas and favorable exchange rates.

High steel prices reduced earnings by $18 million for the year but that it had negotiated “significant cost recoveries” for steel prices for this year, the company said in a statement.

Hayes Lemmerz said its total revenue for 2005 would be $2.3 billion to $2.5 billion.