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Q3 2015 net sales down 7.1% at Xerium Technologies

09 Nov '15

2 min read

Xerium Technologies, a US based global supplier of industrial consumables largely used in textile and technical textile machineries, recorded a decrease of 7.1 per cent in its net sales in the third quarter of 2015 as against its net sales of Q3 2014, according to a press statement released by the company.

Net sales for Q3 2015 stands at $118 million as compared to the net sales of $127.9 million in Q3 2014, the company said. It attributed the drop to decline in sales to commodity grade paper producers, especially in North America.

Commenting on the Q3 results, Harold Bevis, president and CEO of Xerium Technologies said, “Commodity grade paper production declined strongly in Q3, particularly in North America due in part to the strong dollar. We expect currency market dynamics and currency exchange rates to remain the same in Q4 2015.”

Q3 2015 gross profit was $48.3 million or 41 per cent of net sales, excluding one-time start-up costs of a new machine clothing plant in China, a new rolls plant in Turkey, and plant closure costs.

Adjusted EBITDA was $28.3 in Q3 2015, sequentially flat to Q2 2015. Q3 2015 trailing twelve months (TTM) adjusted EBITDA was $111.9 million, an increase of $1.2 million over Q3 2014 TTM adjusted EBITDA. (MCJ)

Fibre2Fashion News Desk — India