McClain Reports Net Loss for Quarter, Year

Sterling Heights, Mich. -- McClain Industries Inc. has reported a fourth quarter 2001 net loss of $2.3 million, compared with a net loss of $1.7 million for the same quarter last year. The company also has reported a net loss for 2001 of $4.9 million, compared with a net loss of $85,854 for 2000.

Sales also decreased from $141 million in 2000 to $91 million for the fiscal year ended Sept. 30, 2001.