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Xerium net sales up 4.2% for Q1 ended March 31
29 Jun '05
8 min read
The significant improvement in net cash provided by operating activities compared to the first quarter of 2004 primarily reflects improved performance on working capital items.
Capital expenditures for the first quarter of 2005 were $6.8 million, compared to $9.7 million for the first quarter of 2004, reflecting primarily the timing of certain larger capital projects in 2005, which are expected to occur later in the year instead of during the first quarter.
Increase in first quarter 2005 net sales due to currency translation is calculated by subtracting (i) an amount equal to net sales from the first quarter of 2005 calculated by applying the applicable average foreign currency exchange rate for the first quarter of 2004 to net sales for the first quarter of 2005 denominated in currencies other than the U.S. dollar from (ii) net sales from the first quarter of 2005.
Paper Machine Clothing
Net sales in the clothing segment were $100.2 million for the first quarter of 2005, an increase of 9.3% compared to net sales of $91.7 million for the first quarter of 2004. Segment Earnings (as defined below in the attachments to this press release) for the clothing segment improved 14.2% to $29.8 million in the first quarter of 2005 from $26.1 million in the same period last year.
Roll Covers
Net sales in the roll covers segment were $52.8 million for the first quarter of 2005, a decrease of 4.2% versus net sales of $55.1 million fors release) for the clothing segment improved 14.2% to $29.8 million in the first quarter of 2005 from $26.1 million in the same period last year.
Capital expenditures for the first quarter of 2005 were $6.8 million, compared to $9.7 million for the first quarter of 2004, reflecting primarily the timing of certain larger capital projects in 2005, which are expected to occur later in the year instead of during the first quarter.
Increase in first quarter 2005 net sales due to currency translation is calculated by subtracting (i) an amount equal to net sales from the first quarter of 2005 calculated by applying the applicable average foreign currency exchange rate for the first quarter of 2004 to net sales for the first quarter of 2005 denominated in currencies other than the U.S. dollar from (ii) net sales from the first quarter of 2005.
Paper Machine Clothing
Net sales in the clothing segment were $100.2 million for the first quarter of 2005, an increase of 9.3% compared to net sales of $91.7 million for the first quarter of 2004. Segment Earnings (as defined below in the attachments to this press release) for the clothing segment improved 14.2% to $29.8 million in the first quarter of 2005 from $26.1 million in the same period last year.
Roll Covers
Net sales in the roll covers segment were $52.8 million for the first quarter of 2005, a decrease of 4.2% versus net sales of $55.1 million fors release) for the clothing segment improved 14.2% to $29.8 million in the first quarter of 2005 from $26.1 million in the same period last year.
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