Home / Knowledge / News / Apparel/Garments / Clothing business unit perks up at Xerium
Clothing business unit perks up at Xerium
14
Mar '12
Xerium Technologies Inc. a leading global manufacturer of industrial textiles and roll covers used primarily in the paper production process announced the results of its operations for the quarter and year ended December 31, 2011.

For the year ended December 31, 2011, net sales and income from operations increased approximately 7% and 35%, respectively, compared to the year ended December 31, 2010. In addition, net income (loss) per diluted share increased to $0.54 from $(7.29) for the year ended December 31, 2011 compared to 2010.

"During the fourth quarter, the negative headwinds affecting the global paper industry that we saw arise in the middle of the year were exacerbated by the worsening debt crisis in Europe and a return to higher oil prices after their brief respite," said Stephen R. Light, President, Chief Executive Officer and Chairman.

"In response to our practice of closely monitoring our customers' behaviors and in particular their PMC and Rolls consumption rates and plans, we shut down much of our production late in the quarter in order not to build inventories above an acceptable level; this resulted in much lower fixed overhead cost absorption.”

”These shutdowns enabled us to reduce inventories while at the same time reducing receivable days outstanding, both of which served to improve our cash position. Pricing and customer ordering patterns for our new products remained in control in spite of the overall demand decline.”

”During the fourth quarter, we completed the Brazilian capacity investment and Australian ramp up we've planned to serve our customers increasing demand for our new press felts. In addition, we received our 200th order for our patented SmartRoll product, bringing SmartRoll revenue to approximately 7% of our roll cover revenue globally."

Click here to read more details:

Xerium Technologies Inc

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search