Xerium Technologies (XRM) Misses Q1 EPS by 4c
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Xerium Reports Q1 2017 Results
May 1, 2017 7:05 AM EDTHighlights
Q1 2017 sales of $119.9 million, increased 4.3% from $115.0 million in Q1 2016 (see Table 1) due to incremental sales from the acquisition of Spencer Johnston and increased machine clothing sales. Q1 2017 sales were up 5.5% versus Q1 2016, when measured on a constant-currency basis. Q1 2017 gross margin of 39.6%, a 170 basis point increase over the prior year period of 37.9%, as production efficiencies favorably impacted our results. Q1 2017 income from operations of $14.3 million, a $2.7 million, or 23.7%, increase over the prior year period of $11.5 million. Q1 2017... More