Fort Mill, SC, April 26, 2006--Wellman Inc., a maker of polyester fiber and products, said on Tuesday it incurred a quarterly loss amid a surge in resin and polyester imports.
Wellman said its net loss for the fourth quarter was $16 million, or 61 cents per share, compared to earnings of $11.6 million, or 22 cents per share, a year earlier. Revenue was $342.7 million, down from $386.3 million a year earlier.
The import surge was caused by the increased raw material cost advantage that Asian polyester producers had compared to domestic producers as a result of hurricanes in the Gulf Coast, it said.
But it expects sales volumes to increase in the second quarter of 2006 after an expansion at a facility.
