Home / Knowledge / News / Textiles / Xerium Technologies posts 6% sales decline in Q1
Xerium Technologies posts 6% sales decline in Q1
09
May '12
Xerium Technologies Inc, a leading global manufacturer of industrial textiles and roll covers used primarily in the paper production process, announced today the results of its operations for the quarter ended March 31, 2012.

Net sales decreased approximately 6% compared to the quarter ended March 31, 2011 and net (loss) income per diluted share decreased to $(0.50) from $0.04 for the quarter ended March 31, 2012 compared to 2011.

“The gradually increasing orders for paper machine clothing and roll coverings we've received in the first quarter of 2012 add to our confidence that we will experience steadily improving market conditions as the year progresses,” said Stephen R. Light, President, Chief Executive Officer and Chairman.

“Clearly the challenge we face in 2012 and beyond is how to further reduce our costs to lessen the impact of the industry's negative cycles, while we simultaneously drive to increase revenues.

“During the last four years, we've aggressively attacked our variable costs by: improving weaving yields by as much as 30% to consume less material, simplifying and speeding up many of our old processes, increasing our focus on trade working capital and improving total working capital by 25.4% since 2008, and reducing headcount approximately 15% in our core units, while substantially growing our presence in Asia by nearly 50%.

“We've closed numerous facilities and transferred work to areas where costs were lower. We've tightly controlled capital investment. Finally, we've consolidated many back office functions to reduce regional duplication.

“To move the Company to the next performance level and restore our historical margins, while adapting to the ever changing dynamics of the paper industry, we'll capitalize on the improvements we've made to further rationalize our numerous facilities and reduce our fixed costs.”

Click here to read more details:

Xerium Technologies Inc


Must ReadView All

Textiles | On 19th Aug 2017

New fabric interfaces to interact with computers

As computer capabilities evolve, new fabric-based interfaces are...

Textiles | On 19th Aug 2017

Brazilian cotton prices drop in first fortnight of August

Cotton prices dropped in the Brazilian market in the first fortnight...

Apparel/Garments | On 19th Aug 2017

Target to acquire Grand Junction for faster deliveries

Target Corporation has announced that it has agreed to acquire Grand...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

August 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search