Xerium Technologies (XRM) Misses Q3 EPS by 8c
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Xerium Reports Third Quarter 2015 Financial Results
November 4, 2015 5:09 PM ESTQ3 2015 Highlights:
Adjusted EBITDA was $28.3 million or 24% of sales representing a 130 basis point YOY improvement. TTM Adjusted EBITDA increased to $111.9 million or 23% of sales representing a 240 basis point YOY improvement. Gross margins were 41% and improved YOY for the 12th consecutive quarter. Sales repositioning program remains on track. 2 new plants, 8 expanded plants, and 39 new products. We anticipate the current commodity grade production decline environment to continue into Q4, now expect full year 2015 Adjusted EBITDA to be approximately $110 million.... More