Rising North American yarn demand augments Spinrite Q2 sales
29 Jul '05
4 min read
The company also supports its market with patterns that provide customers with creative ideas for knitted products. Spinrite has approximately 600 employees at its fully integrated manufacturing and distribution centre in Listowel, Ontario.
(1) While not a Canadian GAAP measure, the Company believes that in addition to net income or loss, EBITDA is a useful supplemental measure of cash available for distribution prior to debt service, changes in working capital, capital expenditures and taxes.
Adjusted EBITDA refers to earnings before interest, taxes, depreciation and amortization after making adjustments for certain non-recurring items. These adjustments include non-recurring management fees, foreign exchange translation gains or losses on debt and other instruments, and pre-funded management arrangements.
Canada based Spinrite is the largest producer and marketer of craft yarn and one of the largest and fastest growing in the U.S. Established in 1952, Spinrite began as a commercial and craft yarn manufacturing business. Over the years its operations, products and sales capabilities have expanded considerably.
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