Compared to the second quarter of 2012, net sales decreased 1.6%, or 1.0% on a constant currency basis to $134.2 million in the third quarter of 2012. On a constant currency basis, net sales of machine clothing increased 1.4%, representing the second straight quarter of volume growth.
On the same constant currency basis, net sales of roll covers decreased 5.3%. The flow through effect of the sales decline was the primary reason for a 3.9% decrease in Adjusted EBITDA from Q2 to Q3. It declined to $24.4 million in the third quarter of 2012 from $25.4 million in the second quarter of 2012.
Compared to the third quarter of 2011, net sales decreased 9.4%, or 4.4% on a constant currency basis to $134.2 million, primarily as a result of the decline in Europe. Again, the flow-through effect of this sales decline is the primary driver of a 14.7% decrease in Adjusted EBITDA to $24.4 million in the third quarter of 2012 from $28.6 in the third quarter of 2011.
Year to date, net sales decreased 8.3% or 4.3% on a constant currency basis, to $405.0 million from $441.8 million, contributing to a decrease in Adjusted EBITDA of 19.2% to $68.6 million in 2012 from $84.9 million in 2011.
The Company continued its debt reduction program during the quarter with additional net debt retirement of $5.7 million. On a year to date basis, net debt has been paid down $20.6 million and stands at $447.8 million as of September 30, 2012.
Click here to read more details:
Xerium Technologies Inc.
Apparel/Garments | On 24th May 2018
The Washington, D.C.-based National Retail Federation and...
Textiles | On 24th May 2018
Reflecting continued growth in the global economy, world cotton mill...
Transparent supply chain and fair trade will boost sustainable market
‘RT3 motto is: Do not check millimetres, check colours.’
Global Organic Textile Standard
‘GOTS is a very efficient supply chain management tool, especially for...
Describing itself as the best body shape and garment fit company in the...
Reckon Industries adapts latest systems for manufacturing from designing...
Sushila International, a well established textile organisation established ...
Coating at a fibre level is a practice not usually seen in the...
Larry L Kinn
Larry L Kinn, Senior Vice President - Operations Americas of Suominen...
Schlegel und Partner
Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...
Divvya and Nidhhi Gambhir
<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...
She grew up in the walled city of Old Delhi, completed her studies, and...
Threads & Shirts
Threads & Shirts is a freshly-tailored concept providing men/women a...