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

November 05, 2012 | About:
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10qk

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Xerium Technologies Inc. (XRM) filed Quarterly Report for the period ended 2012-09-30.

Xerium Technologies, Inc. has a market cap of $48.8 million; its shares were traded at around $3.49 with a P/E ratio of 9.4 and P/S ratio of 0.1.
This is the annual revenues and earnings per share of XRM over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of XRM.


Highlight of Business Operations:

In our clothing segment, net sales for the three months ended September 30, 2012 decreased by $8.6 million, or 8.8%, to $88.9 million from $97.5 million for the three months ended September 30, 2011, primarily due to unfavorable currency effects of $4.8 million and decreased sales volume of $3.0 million in Europe and $1.4 million in South America and Asia Pacific. These decreases were partially offset by an increase in sales volume of $0.6 million in North America.

In our roll covers segment, net sales for the three months ended September 30, 2012 decreased by $5.4 million or 10.7%, to $45.3 million from $50.7 million for the three months ended September 30, 2011. The decrease was primarily due to unfavorable currency effects of $2.7 million and decreased sales volume of $1.8 million in Europe and $1.5 million in North America. These decreases were partially offset by an increase in sales volume of $0.6 million in Asia Pacific.

In our clothing segment, net sales for the nine months ended September 30, 2012 decreased by $25.4 million, or 8.7%, to $265.7 million from $291.1 million for the nine months ended September 30, 2011, primarily due to decreased sales volume of $11.7 million in Europe, $2.4 million in North America and $2.0 million in South America and unfavorable currency effects of $11.5 million. These decreases were partially offset by an increase in sales volume of $2.2 million in Asia Pacific.

In our roll covers segment, net sales for the nine months ended September 30, 2012 decreased by $11.4 million or 7.6%, to $139.3 million from $150.7 million for the nine months ended September 30, 2011. The decrease was primarily due to decreased sales volume of $8.8 million in Europe and $0.6 million in South America and unfavorable currency effects of $6.2 million, partially offset by an increase in sales volume of $0.4 million in North America and $3.8 million in Asia Pacific.

Selling Expenses. For the nine months ended September 30, 2012, selling expenses decreased by $2.7 million, or 4.5% to $57.1 million from $59.8 million for the nine months ended September 30, 2011, primarily due to favorable currency effects of $2.9 million and $1.1 million related to the termination of a sales agency arrangement and a reduction of headcount in Europe. These decreases were partially offset by an increase in salaries and selling commissions costs of $1.3 million, primarily in Asia.

Read the The complete Report

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