DETROIT (AP) — American Axle and Manufacturing Holdings Inc. reported a $27 million first-quarter loss on Friday, blaming much of the red ink on lower light truck production and a two-month strike by the United Auto Workers.

Company executives repeated threats to move production elsewhere if they can't reach a deal to end to the bitter strike, which started on Feb. 26 at American Axle's five original U.S. factories in Michigan and New York.

The Detroit-based auto parts maker said in its earnings release Friday that it lost an estimated $133 million in sales and nearly $46 million in operating income because of the strike, which has shut down its five original U.S. factories in Michigan and New York.

The first-quarter loss amounted to 52 cents per share, compared with net earnings of $15.7 million, or 30 cents per share, in the year-ago quarter.

American Axle executives told reporters and industry analysts Friday that the company's labor costs must be competitive with other U.S. parts suppliers or it will consider moving operations to foreign factories.

"Each and every plant must be profitable. There will be no exceptions," Chairman and CEO Richard Dauch said on a conference call with reporters and industry analysts.

Messages were left Friday for UAW spokesman Roger Kerson.

About 3,600 UAW members went on strike Feb. 26 in a dispute over the company's demands for lower wages and benefits.

The strike has curtailed production at about 30 General Motors Corp. factories in the U.S., Mexico and Canada.

Chief Financial Officer Michael Simonte said in an interview that the company could move equipment to other facilities if it had to.

"The significant investment in a manufacturing operation such as ours is not the facility but the machinery and equipment, the processes and systems," he said. "If we cannot achieve a market-competitive situation, then we're going to have to explore every alternative."

But Simonte also said the company is preparing for significant expenses that include worker buyout and early retirement offers once the contract dispute is settled, and he said there still is hope for an agreement.

He said the UAW created the market rate for labor by agreeing to contracts with American Axle's competitors.

American Axle made a $37 million full-year profit in 2007.

First-quarter earnings also were stressed by a 33 percent drop in light truck production compared with the year-ago period, the company said.

UAW President Ron Gettelfinger has said workers have helped make American Axle profitable, yet the company wants to cut wages to the point where they can no longer make a decent living. He has accused the company of failing to bargain.

American Axle has said its U.S. total hourly labor cost of $73.48 per worker is three times the rate at its domestic competitors and too high for it to win new business. Union officials say they don't make near that amount, which they say includes retiree health care and other non-wage items.

The strike has lasted long enough to have a wide impact on the auto industry and beyond. It has cut into GM's pickup truck and sport utility vehicle production and has affected other auto parts suppliers. The Union Pacific Corp. said Thursday the strike reduced the railroad's revenue by $15 million during the first quarter.

American Axle shares closed down 87 cents, or 4 percent, at $20.96 on Friday.

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On the Net:

American Axle and Manufacturing Holdings Inc.: http://www.aam.com

United Auto Workers: http://www.uaw.org