Xerium Reports Second Quarter 2015 Financial Results
Q2 2015 Highlights:
- Adjusted EBITDA improved to $28 million, representing a margin improvement of 170 basis points compared to Q2 2014 and the 5th consecutive quarter of improved Adjusted EBITDA margins.
- Gross margins have improved over the last 11 consecutive quarters.
- SG&A at constant currency declined 4% sequentially.
- Updated full year 2015 guidance to be similar to 2014, reflecting near-term newsprint and graphical grade decline trends and weak euro.
- Sales growth investment programs remain on track with 8 facilities beginning production or ramping up production capabilities in the second half of 2015 coupled with over 39 new patented products.
Read the full press release on the Xerium website here: