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Propex Fabrics Inc net revenues rise 14.9% in Q1 2005
17 May '05
7 min read
Income Before Interest and Taxes
Total income before interest and taxes increased 64.5% in the first quarter of 2005 to $10.2 million from $6.2 million in the first quarter of 2004. North America furnishings segment income decreased from $9.9 million in the first quarter of 2004 to $9.0 million in the first quarter of 2005 primarily due to lower sales volumes in both our carpet backing and furniture and bedding product lines and an increase in certain stand-alone administrative costs.
North America industrial fabrics segment income improved from a $2.0 million loss in the first quarter of 2004 to $0.6 million of income in the first quarter of 2005, primarily due to higher sales volumes, higher sales prices and significant reductions in fixed costs resulting from cost reduction and efficiency improvement activities. Europe segment profit decreased from $0.3 million of income in the first quarter of 2004 to a loss of $0.1 million in 2005 principally as a result of a sales volume decreases and increasing raw material costs partially offset by a decrease in selling, general and administrative costs.
Brazil segment income decreased from $1.5 million in the first quarter of 2004 to $0.8 million in the first quarter of 2005 reflecting higher fixed manufacturing costs partially offset by increased unit profitability from an improved product mix with a greater focus on higher margin products.
The Company has been engaged in million of income in the first quarter of 2005, primarily due to higher sales volumes, higher sales prices and significant reductions in fixed costs resulting from cost reduction and efficiency improvement activities. Europe segment profit decreased from $0.3 million of income in the first quarter of 2004 to a loss of $0.1 million in 2005 principally as a result of a sales volume decreases and increasing raw material costs partially offset by a decrease in selling, general and administrative costs.
Total income before interest and taxes increased 64.5% in the first quarter of 2005 to $10.2 million from $6.2 million in the first quarter of 2004. North America furnishings segment income decreased from $9.9 million in the first quarter of 2004 to $9.0 million in the first quarter of 2005 primarily due to lower sales volumes in both our carpet backing and furniture and bedding product lines and an increase in certain stand-alone administrative costs.
North America industrial fabrics segment income improved from a $2.0 million loss in the first quarter of 2004 to $0.6 million of income in the first quarter of 2005, primarily due to higher sales volumes, higher sales prices and significant reductions in fixed costs resulting from cost reduction and efficiency improvement activities. Europe segment profit decreased from $0.3 million of income in the first quarter of 2004 to a loss of $0.1 million in 2005 principally as a result of a sales volume decreases and increasing raw material costs partially offset by a decrease in selling, general and administrative costs.
Brazil segment income decreased from $1.5 million in the first quarter of 2004 to $0.8 million in the first quarter of 2005 reflecting higher fixed manufacturing costs partially offset by increased unit profitability from an improved product mix with a greater focus on higher margin products.
The Company has been engaged in million of income in the first quarter of 2005, primarily due to higher sales volumes, higher sales prices and significant reductions in fixed costs resulting from cost reduction and efficiency improvement activities. Europe segment profit decreased from $0.3 million of income in the first quarter of 2004 to a loss of $0.1 million in 2005 principally as a result of a sales volume decreases and increasing raw material costs partially offset by a decrease in selling, general and administrative costs.
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