Trailer maker Wabash National Corp. continues to struggle financially from a nearly 50% market-wide drop in trailer orders that began last year. Lafayette, IN-based Wabash lost $14.6 million in the first quarter on sales of $162 million. It is a 33% decline from the same period in 2001, but an improvement from the $17.7 million Wabash lost in the first quarter last year on sales of $243 million. Wabash added that it had to take $10 million worth of pre-tax charges in the first quarter of 2002 to cover the various costs of refinancing and restructuring debt, provide for additional bad debt provisions, and to write down the value of used trailer inventory. However, the company recently restructured its line of credit and debts, extending them to 2005 and 2004, respectively, and gained a new, two-year $110 million receivables facility with GE Capital.