Xerium Technologies declares Q2 results & Financial Outlook 2005
12 Aug '05
6 min read
(1)Increase in first half 2005 net sales due to currency translation is calculated by subtracting (i) an amount equal to net sales from the first half of 2005 calculated by applying the applicable average foreign currency exchange rate for the first half of 2004 to net sales for the first half of 2005 denominated in currencies other than the U.S. dollar from (ii) net sales for the first half of 2005.
FINANCIAL OUTLOOK FOR 2005
The Company currently anticipates that net income per diluted share for the full year 2005 will be in a range from $0.45 to $0.55 on a GAAP basis, which equates to an anticipated range of net income per diluted share of $1.14 to $1.24 excluding the impact of IPO Related Costs, as described below. These expectations are based upon assumed diluted common shares outstanding on a weighted average basis for 2005 of 38,899,423 shares.
CONFERENCE CALL
The Company plans to hold a conference call to discuss these results on Friday August 12th, 2005 beginning at 8:00 am ET.
Xerium Technologies Inc is maker & supplier of two types of consumable products used primarily in the production of paper: clothing and roll covers. The Company, which operates around the world under a variety of brand names, utilizes a broad portfolio of patented and proprietary technologies to provide customers with tailored solutions and products integral to production, all designed to optimize performance and reduce operational costs. With 35 manufacturing facilities in 15 countries around the world, Xerium Technologies has approximately 3,900 employees.
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