Xerium Technologies, Inc. (XRM), a leading global manufacturer of industrial textiles and roll covers used primarily in the paper production process, reported results for its third quarter ended September 30, 2010.
Net sales for the 2010 third quarter were $135.9 million, a 4.3% increase from net sales for the 2009 third quarter of $130.3 million. Excluding currency effects shown in the table below, third quarter 2010 net sales increased 7.0% from the third quarter of 2009, with increases of 7.3% and 6.3% in the clothing and roll covers segments, respectively.
Net loss for the third quarter of 2010 was $3.7 million or $0.24 per diluted share, compared to a net loss of $7.4 million or $3.02 per diluted share for the third quarter of 2009. As part of its recent plan of reorganization, the Company implemented a 20-to-1 reverse split of its common stock and accordingly, the effect of the split has been reflected retroactively for all periods presented.
Xerium Technologies, Inc. (NYSE: XRM) is a leading global manufacturer and supplier of two types of consumable products used primarily in the production of paper: clothing and roll covers.
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Disclosure: "No Positions"