Xerium's net rises on special items - Triangle Business Journal:

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Xerium (NYSE: XRM), the Youngsville-based manufacturer of productzs forthe paper-making said profit was $14. 1 million, or 31 cents per diluted share, in the A year earlier, the company earned $7.7 million, or 17 cents a Revenue increasedby 10.9 percent, to $170.5 million, as sales in foreigj currencies translated into more U.S. dollars than they did a year ago. Excludinf the effects of currency, net sales rose by 2.8 The company said a one-time, non-cash credit of $13.87 million bolstered its bottom line.
The creditt reflects the mark-to-market increase in the fair valude ofthe company’s interest-rate swaps essentially, insurance policies against changing interest Sales volume dropped by 1.8 percent in the company’s business and grew by 12.2 percent in “roll Clothing helps raw paper move along a paper-makint machine, while roll covers protectr the large rods that flatten papeer out. Gross margins fell, to 40.4 percent, from 41.8 perceng a year earlier. During the second quarter, Xerium to avoix bankruptcy. The company also has reorganizedsome operations, slowed its expansion plans in emerging markets and refocused on its bread-and-butterr markets of the U.S.
and westernj Europe.