Restructuring expenses & imported goods weaken Quaker's financial results

15 Feb '06

1 min read

Conshohocken, Pennsylvania based $400 million dollar company Quaker Fabric Corporation reported net sales of $50.1 million, a net loss of ($4.8 million), and diluted and basic losses per share of ($0.28) for the three-month period ended December 31, 2005; compared to net sales of $68.0 million, a net loss of ($1.9 million), and diluted and basic losses per share of ($0.11) for the corresponding period of fiscal 2004.

Quaker's financial results for the fourth quarter of fiscal year 2005 include after-tax restructuring, including asset impairment and related charges of $0.1 million, as well as $0.3 million of after-tax plant relocation expenses.

Excluding these charges and expenses, net loss for the fourth fiscal quarter of 2005 was ($4.4 million), or ($0.26) per diluted share.

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Quaker Fabric Corporation is a leading manufacturer of woven upholstery fabrics for furniture markets in the United States and abroad, and the largest producer of Jacquard upholstery fabric in the world.

Quaker Fabric Corporation

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