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xerium technologies inc (XRM) Snapshot

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03/5/14 - $17.99
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08/16/13 - $9.95
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xerium technologies inc (XRM) Details

Xerium Technologies, Inc. manufactures and supplies consumable products primarily for the production of paper. The company operates in two segments, Machine Clothing and Roll Covers. The Machine Clothing segment provides various types of industrial textiles used on paper-making machines and other industrial applications. It offers forming fabrics that are used at the beginning of paper-making machines; press felts for carrying the paper sheet through a series of press rolls that mechanically press water from the sheet under high pressure; and dryer fabrics to transport the paper sheet through the drying section of paper-making machines. This segment also provides other fabrics, which are used in other industrial applications, such as pulp, non-woven textiles, fiber cement, tannery sludge dewatering, and textiles manufacturing; and auto-joining equipment used in machine clothing production. The Roll Covers segment manufactures, refurbishes, and replaces roll covers, including suction rolls, lump breaker rolls, coater rolls, sizing rolls, calendar rolls, and various purpose conveying rolls used in paper-making machines. This segment also offers refurbishment services for previously installed roll covers; and mechanical maintenance and repair services for the internal mechanisms of rolls, as well as manufactures and repairs spreader rolls. The company markets its products under the Huyck Wangner, Weavexx, Stowe Woodward, Mount Hope, Robec, and Xibe brands to the paper industry’s producers through its direct sales force worldwide. Xerium Technologies, Inc. was founded in 1999 and is headquartered in Youngsville, North Carolina.

3,200 Employees
Last Reported Date: 03/4/14
Founded in 1999

xerium technologies inc (XRM) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $665.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $340.0K
President of Xerium North America and Europe
Total Annual Compensation: $405.0K
President of Xerium - South America
Total Annual Compensation: $380.7K
Compensation as of Fiscal Year 2013.

xerium technologies inc (XRM) Key Developments

Xerium Technologies Inc. Announces Preliminary Earnings Results for the Second Quarter Ended June 30, 2014

Xerium Technologies Inc. announced preliminary earnings results for the second quarter ended June 30, 2014. For the quarter, the preliminary results indicate the company's performance was in-line with previous guidance. Sales were approximately $139.7 million, which was an increase of 1.0% over second quarter of 2013 and an increase of 4.7% over first quarter 2014. Adjusted EBITDA was approximately $29.4 million and net income was approximately $0.764 million. Net cash provided by operating activities was $6.153 million. EBITDA was $20.946 million.

Xerium Technologies Inc. Reports Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Year 2014

Xerium Technologies Inc. reported earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net sales of $133.384 million against $139.805 million a year ago. Income from operations was $12.594 million against $17.443 million a year ago. Net income was $1.167 million or $0.07 per diluted share against $5.485 million or $0.36 per basic and diluted share a year ago. Net cash provided by operating activities was $2.763 million against $10.283 million a year ago. EBITDA was $20.365 million against $26.736 million a year ago. Adjusted EBITDA was $25.701 million against $29.143 million a year ago. The company spent approximately $13 million of cash on capital expenditures and restructuring costs in first quarter 2014. Net debt increased to $430.5 million in the first quarter 2014 from $417.4 million in the fourth quarter 2013, primarily as a result of increased trade working capital, higher capital expenditures and the execution of a capital lease on corporate headquarters. For the full year, the company expects to spend $68 million, or a similar amount to 2013, to generate approximately $25 million of cost reduction savings in 2014. Adjusted EBITDA guidance of $116 - $120 million remains on track. The company expects to achieve year-over-year sales growth in 2014 just as in 2013, and the company expects sales growth in '15 and '16.

Xerium Technologies Inc., Annual General Meeting, Jun 12, 2014

Xerium Technologies Inc., Annual General Meeting, Jun 12, 2014., at 09:00 US Eastern Standard Time. Location: 14101 Capital Boulevard. Agenda: To elect seven directors; to ratify the selection of Ernst & Young LLP as Xerium Technologies, Inc.'s independent registered public accounting firm; to hold an advisory vote to approve executive compensation; and to transact such other business as may properly come before the meeting and any adjournment or postponement of the meeting.


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