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Propex Fabrics posts a 7.5% net revenue growth in 2005
01 Apr '06
2 min read
Leading manufacturer of woven and non-woven polypropylene carpet backing and industrial fabrics Propex Fabrics Inc has announced 2005 annual financial results.
The total net revenue increased $45.9 million or 7.5 percent to $655.5 million in the year ended December 31st 2005 from $609.6 million in the year ended December 31st 2004. This revenue increase is primarily due to an increase in North America furnishings net revenue of $39.4 million, along with net revenue increases of $4.0 million in North America industrial fabrics, $0.8 million in Europe and $1.7 million in Brazil.
The cost of sales increased 1.3 percent to $547.7 million in the year ended December 31st 2005 from $540.9 million in the year ended December 31st 2004. The increase in cost of sales primarily reflects the significant increase in the cost of polypropylene.
As a percentage of net revenue, cost of sales decreased to 83.6 percent in the year ended December 31st 2005 from 88.7 percent in the year ended December 31st 2004, primarily due to higher margins and decreases in non-raw material manufacturing costs and lower non-recurring expenses.
Selling, general and administrative expenses increased 27.0 percent to $60.2 million in the year ended December 31st 2005 from $47.4 million in the year ended December 31st 2004. As a percentage of net revenue, selling, general and administrative expenses increased to 9.2 percent in the year ended December 31st 2005 from 7.8 percent in the year ended December 31st 2004.
Income before interest and taxes increased to $46.1 million in the year ended December 31st 2005 from $15.7 million in the year ended December 31st 2004.
Propex Fabrics is the leading manufacturer of woven and non-woven polypropylene carpet backing and industrial fabrics. With the strength of our company in our over 3,500 employees, we provide products with consistent high quality, on time and at the right price.
The total net revenue increased $45.9 million or 7.5 percent to $655.5 million in the year ended December 31st 2005 from $609.6 million in the year ended December 31st 2004. This revenue increase is primarily due to an increase in North America furnishings net revenue of $39.4 million, along with net revenue increases of $4.0 million in North America industrial fabrics, $0.8 million in Europe and $1.7 million in Brazil.
The cost of sales increased 1.3 percent to $547.7 million in the year ended December 31st 2005 from $540.9 million in the year ended December 31st 2004. The increase in cost of sales primarily reflects the significant increase in the cost of polypropylene.
As a percentage of net revenue, cost of sales decreased to 83.6 percent in the year ended December 31st 2005 from 88.7 percent in the year ended December 31st 2004, primarily due to higher margins and decreases in non-raw material manufacturing costs and lower non-recurring expenses.
Selling, general and administrative expenses increased 27.0 percent to $60.2 million in the year ended December 31st 2005 from $47.4 million in the year ended December 31st 2004. As a percentage of net revenue, selling, general and administrative expenses increased to 9.2 percent in the year ended December 31st 2005 from 7.8 percent in the year ended December 31st 2004.
Income before interest and taxes increased to $46.1 million in the year ended December 31st 2005 from $15.7 million in the year ended December 31st 2004.
Propex Fabrics is the leading manufacturer of woven and non-woven polypropylene carpet backing and industrial fabrics. With the strength of our company in our over 3,500 employees, we provide products with consistent high quality, on time and at the right price.
Propex Fabrics Inc
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