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FiberMark net sales down $2.3mn in Q1 2005
25 May '05
2 min read
a leading fiber-based material producer fibermark inc issued its financial results for the first quarter ended march 31, 2005. the company reported a net loss of $2.3 million, or $0.33 per share, versus a loss of $16.9 million, or $2.38 per share, in 2004. the smaller net loss primarily reflects lower reorganization expense of $6.5 million and lower interest expense of $8.3 million both related to the company's chapter 11 filing.
foreign exchange benefits contributed to $2.9 million of the improvement. offsetting those improvements were lower volume from north american operations, higher raw material costs, particularly in pulp and latex, and energy, which were only partially offset by price increases, improvements in product mix and lower fixed costs.
net sales in the first quarter of 2005 were $114.8 million compared with $112.4 million in the prior-year quarter, an increase of $2.4 million or 2.1%. sales from german operations were $61.2 million compared with $55.6 million in 2004, an increase of $5.6 million or 10.1%. excluding the effects of a stronger euro, which accounted for $2.8 million of the increase, sales from german operations increased by $2.8 million or 5.0%.
the company continued to generate sales gains in most of its german operations due to a combination of market share gains and geographic growth, particularly in the pacific rim.
however, weak economic conditions in europe, particularly in germany, have affected industry demand in the nonwoven wallcovering market. german sales levels also reflect some offsetting pockets of pricing pressure and weaker product mix. sales from north american operations were $53.6 million in the 2005 quarter versus $56.9 million in 2004, a decline of $3.3 million or 5.8%. north american operations sales reflect modest declines in most product families, particularly in technical specialties due to a combination of market erosion and lackluster economic conditions. lower volume was partially offset by price increases and improvements in product mix.
foreign exchange benefits contributed to $2.9 million of the improvement. offsetting those improvements were lower volume from north american operations, higher raw material costs, particularly in pulp and latex, and energy, which were only partially offset by price increases, improvements in product mix and lower fixed costs.
net sales in the first quarter of 2005 were $114.8 million compared with $112.4 million in the prior-year quarter, an increase of $2.4 million or 2.1%. sales from german operations were $61.2 million compared with $55.6 million in 2004, an increase of $5.6 million or 10.1%. excluding the effects of a stronger euro, which accounted for $2.8 million of the increase, sales from german operations increased by $2.8 million or 5.0%.
the company continued to generate sales gains in most of its german operations due to a combination of market share gains and geographic growth, particularly in the pacific rim.
however, weak economic conditions in europe, particularly in germany, have affected industry demand in the nonwoven wallcovering market. german sales levels also reflect some offsetting pockets of pricing pressure and weaker product mix. sales from north american operations were $53.6 million in the 2005 quarter versus $56.9 million in 2004, a decline of $3.3 million or 5.8%. north american operations sales reflect modest declines in most product families, particularly in technical specialties due to a combination of market erosion and lackluster economic conditions. lower volume was partially offset by price increases and improvements in product mix.
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