Quaker Fabric reports disappointing Q3 financial results

19 Oct '05

1 min read

Quaker Fabric reported net sales of $46.5 million, a net loss of ($7.2 million), and diluted and basic losses per share of ($0.43) for the three-month period ended October 1, 2005; compared to net sales of $63.6 million, a net loss of ($2.1 million), and diluted and basic losses per share of ($0.13) for the corresponding period of fiscal 2004.

Quaker's financial results for the third quarter of fiscal year 2005 include after-tax restructuring, including asset impairment, and related charges of $3.8 million, as well as $0.3 million of after-tax plant relocation expenses. Excluding these charges and expenses, net loss for the third fiscal quarter of 2005 was ($3.1 million), or ($0.18) 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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