Clobbered by the recent loss of one...

Clobbered by the recent loss of one of its biggest customers, Wynn’s International Inc. on Friday projected a dismal first quarter, with net income expected to fall as much as 50%from the prior-year period.

The Fullerton-based manufacturer of automotive parts said net income could fall to $93,000 for the first quarter ended March 31, compared to $1.86 million a year earlier. It would mark Wynn’s second consecutive quarter of sharply decreased earnings and company officials expect the second quarter to fare no better. In the 1984 fourth quarter, Wynn posted a 24%earnings drop.

John F. Lillicrop, president, said Wynn recently lost Chrysler Corp. as a major buyer of its air conditioning units. Chrysler purchased these units for installation in its imported Mitsubishi cars. But Mitsubishi is now installing its own units in the imports and Wynn has been unable to find a new customer of comparable size.

“It was a big loss to us,” said Lillicrop, who noted that sales of Wynn’s largest division, Lone Star Manufacturing Co. are expected to drop 10%for the first quarter. But with the recent elimination of the quota on Japanese auto imports, Lillicrop expects that Wynn will soon find new Japanese customers. Its biggest customer, Mazada Motor Corp., recently increased orders on air conditioners for its U.S. imports. Overall, company sales at Wynn are expected to fall about 2%, Lillicrop said.

Despite the expected earnings drop, the company does not plan to lay off any of its 2,000 employees nationwide, Lillicrop said.