Wellman Reports 1Q Losses Widen

Fort Mill, SC, April 27, 2007--Wellman Inc. on Thursday reported a wider first-quarter loss, despite record PET resin sales and volume.

The net loss was $26.9 million, or 84 cents per share, compared with a loss of $19.4 million, or 61 cents per share for the same period in 2006, the Shrewsbury, New Jersey-based company said.

The loss from continuing operations was $26.0 million, or 81 cents per share, Wellman said.

"Although we experienced disappointing overall results in the first quarter, we achieved record quarterly PET resin sales and volume due to strong demand, said Thomas Duff, Wellman's chairman and chief executive.