Xerium clothing biz demonstrates broad-based growth in Q3
12 Nov '07
3 min read
• Separately, the Company announced that its Board of Directors had declared a dividend of $0.1125 per share of common stock payable on December 17, 2007 to shareholders of record as of the close of business on December 5, 2007.
Thomas Gutierrez, President and Chief Executive Officer of Xerium Technologies, said, "We continue to make meaningful progress as we work to strengthen our core businesses and position Xerium for future growth. Our clothing business demonstrated exceptional, broad-based growth this quarter, with sales increasing 11.6% over the same period last year.
Even more importantly, as a result of numerous programs we initiated to drive efficiencies and reduce costs, segment earnings for clothing grew at almost double the rate of sales growth, improving 22.5% over the same period."
"As we have described in previous quarters, the roll covers business continues to face a number of challenges that have limited our ability to generate sales increases. These factors led to a decline in roll covers sales of 5.2% for the third quarter of 2007 compared to the same quarter last year.
We have, however, made progress offsetting the bottom-line impact of sales declines with programs aimed at reducing costs, and I am pleased that we were able to generate segment earnings this quarter in line with the prior year period."
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
