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Xerium Technologies Inc. Reports Operating Results (10-Q)

August 07, 2012 | About:
10qk

10qk

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Xerium Technologies Inc. (XRM) filed Quarterly Report for the period ended 2012-06-30.

Xerium Technologies, Inc. has a market cap of $50.9 million; its shares were traded at around $3.19 with a P/E ratio of 10.1 and P/S ratio of 0.1.

Highlight of Business Operations:

Net Sales. Net sales for the three months ended June 30, 2012 decreased by $14.0 million, or 9.3%, to $136.4 million from $150.4 million for the three months ended June 30, 2011. For the three months ended June 30, 2012, approximately 65% of our net sales were in our clothing segment and approximately 35% were in our roll covers segment.

In our clothing segment, net sales for the three months ended June 30, 2012 decreased by $11.5 million, or 11.5%, to $88.1 million from $99.6 million for the three months ended June 30, 2011, primarily due to decreased sales volume of $5.1 million in Europe and $3.5 million in North and South America and unfavorable currency effects of $5.0 million. These decreases were partially offset by an increase in sales volume of $2.1 million in Asia Pacific.

In our roll covers segment, net sales for the three months ended June 30, 2012 decreased by $2.4 million or 4.7%, to $48.3 million from $50.7 million for the three months ended June 30, 2011. The decrease is primarily due to decreased sales volume of $2.7 million in Europe and unfavorable currency effects of $2.6 million, partially offset by an increase in sales volume of $1.6 million in Asia Pacific and $1.4 million in North America.

In our clothing segment, net sales for the six months ended June 30, 2012 decreased by $16.8 million, or 8.7%, to $176.8 million from $193.6 million for the six months ended June 30, 2011, primarily due to decreased sales volume of $8.7 million in Europe, $3.0 million in North America and $0.8 million in South America and unfavorable currency effects of $6.6 million. These decreases were partially offset by an increase in sales volume of $2.4 million in Asia Pacific.

In our roll covers segment, net sales for the six months ended June 30, 2012 decreased by $6.1 million or 6.1%, to $93.9 million from $100.0 million for the six months ended June 30, 2011. The decrease is primarily due to decreased sales volume of $7.0 million in Europe and $0.7 million in South America and unfavorable currency effects of $3.5 million, partially offset by an increase in sales volume of $1.9 million in North America and $3.3 million in Asia Pacific.

Read the The complete Report

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