Xerium Reports Q1 2016 Results
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Xerium Technologies (XRM) Misses Q1 EPS by 23c; Acquires J.J. Plank Corporation
May 4, 2016 4:44 PM EDTXerium Technologies (NYSE: XRM) reported Q1 EPS of $0.07, $0.23 worse than the analyst estimate of $0.30. Revenue for the quarter came in at $115 million versus the consensus estimate of $118.04 million.
Xerium Technologies also announced that it has acquired the business of J.J. Plank Corporation, including its Spencer Johnston brand spreader roll line and related family of product lines for $18 million, comprised of $16.25 million in cash at closing, and the rest in future obligations. Spencer Johnston and the other J.J. Plank divisions supply equipment used in the production of paper, nonwoven... More
