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Last $12.37 USD
Change Today +0.07 / 0.57%
Volume 44.5K
XRM On Other Exchanges
New York
As of 8:04 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

xerium technologies inc (XRM) Snapshot

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04/27/15 - $18.93
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08/24/15 - $10.00
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xerium technologies inc (XRM) Details

Xerium Technologies, Inc. manufactures and supplies consumable products primarily used in 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 that 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 other conveying rolls used in paper-making machines. This segment also provides 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 to the paper industry worldwide through its direct sales force under the Huyck Wangner, Weavexx, Stowe Woodward, Mount Hope, Robec, and Xibe brands. Xerium Technologies, Inc. was founded in 1999 and is headquartered in Youngsville, North Carolina.

3,100 Employees
Last Reported Date: 03/4/15
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: $355.0K
President of Xerium North America and Europe
Total Annual Compensation: $405.0K
President of Xerium - South America
Total Annual Compensation: $386.0K
President of Asia
Total Annual Compensation: $300.0K
Compensation as of Fiscal Year 2014.

xerium technologies inc (XRM) Key Developments

Xerium Technologies Inc. Reports Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2015; Provides Financial Guidance for the Second Half and Full Year 2015

Xerium Technologies Inc. reported consolidated earnings results for second quarter and six months ended June 30, 2015. For the quarter, on consolidated basis, the company’s net sales were $123.13 million against $139.72 million a year ago. Income from operations was $13.57 million against $12.32 million a year ago. Income before provision for income taxes was $3.98 million against $3.09 million a year ago. Net loss was $0.70 million or $0.05 per diluted share against net income of $0.76 million or $0.05 per diluted share a year ago. EBITDA was $19.86 million against $20.95 million a year ago. Adjusted EBITDA was $28.00 million against $29.42 million a year ago. Net debt increased to $473.4 million from $464.7 million in first quarter of 2015. Basic adjusted EPS of $0.37 per share, that represents an increase of 32% over $0.28 per share in first quarter 2015 For the six months, on consolidated basis, the company’s net sales were $244.16 million against $273.11 million a year ago. Income from operations was $27.76 million against $24.91 million a year ago. Income before provision for income taxes was $9.49 million against $6.15 million a year ago. Net loss was $1.03 million or $0.06 per diluted share against net income of $1.93 million or $0.12 per diluted share a year ago. Net cash provided by operating activities was $14.67 million against $8.92 million a year ago. Capital expenditures, gross were $27.91 million against $22.47 million a year ago. The company expects its net debt and leverage to improve in the second half of 2015 as free cash flow becomes positive, and the company begin to pay down debt. Second half of 2015 adjusted EBITDA is expected to head higher in dollars, as the company continues to deliver adjusted EBITDA margin improvement despite the sometimes difficult regional industry conditions. Second half 2015 adjusted EBITDA results to improve over the first half of 2015. The company expects full-year Adjusted EBITDA will likely be comparable to last year's Adjusted EBITDA. The company expects the incremental earnings from sales growth investment programs to more than offset the permanent market declines in graphical paper production. Additionally, as capital expenditures begin to decline, the company will begin to pay down debt with the surplus cash flow. Sales growth investment programs, totaling $87 million, involve a full gamut of initiatives that will enable Xerium to deliver significant incremental Adjusted EBITDA growth and further increase earnings potential. Most of spending is behind and these multi-year programs are coming on line in the second half of 2015. The company expects the full year cash tax rate to be there, around 30%.

Xerium Technologies Inc. Presents at Jefferies 11th Annual Industrials Conference, Aug-13-2015 08:00 AM

Xerium Technologies Inc. Presents at Jefferies 11th Annual Industrials Conference, Aug-13-2015 08:00 AM. Venue: Grand Hyatt, 109 E. 42nd Street, New York, New York, United States. Speakers: Clifford E. Pietrafitta, Chief Financial Officer, Principal Accounting Officer and Executive Vice President, David Pretty, President of Xerium North America and Europe, Harold C. Bevis, Chief Executive Officer, President and Director.

Xerium Technologies Inc. Announces New Business in China

Xerium Technologies Inc. has announced that it has materially completed the $60 million successful restructuring of its business in China. The business is now in a position to locally serve customers in China, Asia, and also export certain products globally. The make-over of its China and Asian business has taken over 3 years to complete with a number of key aspects required for full implementation. Xerium has implemented an all-Asian business model and will now run its entire Asian business from Shanghai. Highlights of the repositioning of Xerium’s Asia business are as follows: Kunshan, China Press Felt Plant: Production has begun at Kunshan, China Press Felt Plant Xerium completed a 2 year, multi-million dollar construction project to build and equip a brand-new press felt plant in Kunshan, China. This greenfield plant is located in the heart of the Yangtze River paper-making region, which is at the center of the paper-making region in the world - China. It took over 2 years to design, build, equip, and commission. Until this new plant began production, Xerium served this region mainly as an exporter of products made in Europe. Xerium has significantly increased its competitive position with this plant and will now be able to more closely partner with customers in China and the rest of the world. For the first time ever, customers in China will receive locally provided and optimized press felt solutions from Xerium. Xerium will conduct business in local currency and local languages. The Kunshan plant will be able to service the pulp, paper, paperboard, and tissue machines in the world, as the main machine in the plant is greater than 15 meters wide. This central machine and its foundation weighed almost 1 million pounds at installation. For some press felt designs, the company will be able to make 3 pieces simultaneously - a first for the company. The plant has information systems and supply chain interfaces along with real time operational communication systems throughout the site. It is conducting business from a new Infor information technology platform. The company is moving a large portion of its press felt production to this plant in China. The plant has initiated production. Renovated Changzhou, China Rolls Plant Xerium completed a 2 year, multi-million dollar investment program to completely renovate its rolls and mechanical service plant in Changzhou, China. This plant is located in the Yangtze River paper-making region. Until this renovation was completed, Xerium had served this region for many decades by exporting high-end working rolls from Europe. Xerium has now transferred all of its technology to this plant SMART Roll production cell, spreader roll production cell, polyurethane production cell, suction box production cell, upgraded extrusion and drilling equipment. The plant can now produce all of Xerium’s designs. The plant recently received ISO-9000 quality certification. Implemented new Asia Headquarters in Shanghai- Moved and reincorporated Xerium Asia headquarters into the Shanghai Free Trade Zone. This special Chinese government approval allows Xerium to import/export at the lowest possible cost, expedite customs processing, provide shorter lead times for materials transfer, enables maximum leverage of working capital for Xerium across Asia, and receive improved tax treatment as a local Chinese business entity. The entity is now in place. Implemented new Chinese Capital Structure Implemented a local capital structure and banking relationship by moving a portion of the Xerium corporate debt structure to China. The company has implemented a multi-million RMB on-going loan in China with ICBC. Xerium will now conduct local business in local currency (RMB), finance and fund its China business locally in RMB. This will also enable Xerium to both secure a natural business hedge and receive local entity tax treatment. The new loan and new ICBC financial relationship are complete and in place. Localized all Asian Leadership - Moved its Asia business leadership from the United States and Europe to China. The key top personnel moves were: moved President and CFO positions from the US to Shanghai, moved Sales leadership from Europe and Australia to Shanghai, moved technical leadership from Europe to Shanghai. All of these personnel moves are complete. Implemented Chinese IT structure - Moved its IT and data support from Europe to Shanghai. The company has completed its data center in Shanghai and is partnered with SAP as its provider for rolls plant information technology, and is partnered with Infor for machine clothing plant information technology. Both technology providers have huge businesses in China and are also located in Shanghai. Implemented Contemporary Asian Supply Chain - Moved its Asia supply chain and warehousing activities from in-house/locally provided into a global partnership with Panalpina. Xerium is connecting its internal systems with Panalpina to give its customers a seamless electronic supply chain. The supply chain moves are in place.


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