News Flash

Clothing & roll covering firm Xerium sales down 1.8%

15 Nov '05

2 min read

Leading global manufacturer of clothing and roll covers used primarily in the paper production process, Xerium Technologies Inc reported results for the third quarter of 2005 ended September 30, 2005.

Cash on hand at September 30, 2005 was $59.9 million, a $35.9 million increase from $24.0 million at December 31, 2004 and an $8.7 million increase from $51.2 million at June 30, 2005.

Net sales for the third quarter of 2005 were $140.1 million, a 1.8 percent decrease from $142.6 million for the third quarter of 2004.

The net loss per diluted share was $0.18 for the third quarter of 2005, compared to a net loss per diluted share of $0.37 for the third quarter of 2004.

Operating income for the third quarter of 2005 was $20.2 million, compared to $13.9 million for the third quarter of 2004.

Operating income for the current year quarter includes $1.0 million in restructuring costs, compared to third quarter 2004 restructuring costs of $8.4 million.

Also included in the third quarter of 2005 was $1.0 million of additional overhead costs associated with Xerium Technologies' transition to, and operation as, a public company, which were not incurred in the third quarter of 2004.

Click to view Q3 results

Xerium Technologies Inc is a leading global manufacturer and supplier of two types of products used primarily in the production of paper: clothing and roll covers.

The Company, which operates around the world under a variety of brand names, owns a broad portfolio of patented and proprietary technologies to provide customers with tailored solutions and products integral to production, all designed to optimize performance and reduce operational costs.

With 35 manufacturing facilities in 15 countries around the world, Xerium Technologies has approximately 3,900 employees.

Xerium Technologies Inc

More Xerium Technologies Inc News... More Textiles News - United States Of America...