Baldor Sales Drop

Baldor Electric Co. of Fort Smith announced first-quarter net sales of $150.2 million, down 5 percent from $158 for the same period of 2000. Net earnings for the quarter ended March 31 were $7.1 million, down 41.4 percent from $12.2 million in the first quarter of 2000.

Diluted earnings per share were 21 cents per share for the quarter, down 40 percent from the company record of 35 cents per share in 2000.

The release of quarterly figures follows a March 12 price increase. Rising material costs made Baldor raise its prices for the first time in five years.

Baldor designs and manufactures electric motors and drives with 4,066 employees in 22 locations.