Revenues fell 4.3 percent, to $495.7 million for the quarter, compared with nearly $518 million a year ago.
Investment by business, however, was a clear soft spot as spending fell for the sixth straight quarter.
Domestic passenger traffic fell by 3 percent for the quarter.
Her industry fell 11% short of its production goal for the first quarter of 1938.
The gross domestic product actually fell for the third consecutive quarter.
Revenues fell 2.2 percent, to $913 million for the quarter.
Revenue fell to $405.8 million for the quarter from $421.6 million in the 1990 period.
But the company said its holdings of troubled loans fell for the second consecutive quarter.
Revenues fell to $803 million for the quarter, from $857 million a year earlier.
A spokesman said sales had fallen behind the company's expectations for the third quarter.
