Xerium Technologies, Inc. (NYSE: XRM), a leading global manufacturer of clothing and roll covers used primarily in the paper production process, today announced that it plans to release its results for the first quarter ended March 31, 2008 after the market closes on Wednesday, May 7, 2008, and hold a conference call to discuss those results on Thursday, May 8, 2008, starting at 8:00 am ET.
The conference call will be accessible as a webcast through the company's website (www.xerium.com), following the links for investor relations and events. To access the call, please dial 877-391-6733, using passcode 96503289, at least 10 minutes prior to the call's scheduled start. Internationally, the call may be accessed by dialing 617-597-9372, using the same passcode. Participants may pre-register for the call at: www.theconferencingservice.com/prereg/key.process?key=P8EJBVXYL
Pre-registrants will be issued a pin number to use when dialing into the live call which will provide quick access to the conference by bypassing the operator upon connection. The call will be available as an archived webcast at the company's website, beginning approximately one hour after the completion of the call.
ABOUT XERIUM TECHNOLOGIES
Xerium Technologies, Inc. (NYSE: XRM) is a leading global manufacturer and supplier of two types of consumable products used primarily in the production of paper: clothing and roll covers. The company, which operates around the world under a variety of brand names, utilizes a broad portfolio of patented and proprietary technologies to provide customers with tailored solutions and products integral to production, all designed to optimize performance and reduce operational costs. With 35 manufacturing facilities in 15 countries around the world, Xerium has approximately 3,700 employees.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements. These statements relate to future events or to our future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue” or the negative of these terms or other comparable terminology. Undue reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors that are, in some cases, beyond our control and that could materially affect actual results, levels of activity, performance, or achievements. Factors that could materially affect our actual results, levels of activity, performance or achievements include the following items: (i) our lenders would have the right to demand immediate repayment of our obligations under our credit facility and counterparties may have the right to terminate our existing interest rate swaps if we remain in default of our financial covenants at May 31, 2008; (ii) our borrowing costs are likely to increase in the event that we are able to reach agreement on amendment of our financial covenants or otherwise refinance our credit facility; (iii) the New York Stock Exchange may delist our common stock if we are unable to meet the NYSE listing requirements; (iv) our revenues and profitability could be adversely affected by fluctuations in currency exchange rates; (v) our profitability would be reduced by a decline in the prices of our products; (vi) our profitability could be adversely affected by fluctuations in interest rates; (vii) we may not be able to develop and market new products successfully or we may not be successful in competing against new technologies developed by competitors; (viii) our credit facility contains restrictive covenants, including covenants requiring compliance with minimum interest coverage and fixed charge coverage ratios and maximum leverage ratios, that will require us to improve our performance over time in order to comply therewith; (ix) our credit facility, as amended, prohibits the payment of dividends on our common stock; (x) we may have insufficient cash to fund growth and unexpected cash needs after satisfying our debt service obligations due to our high degree of leverage and significant debt service obligations; (xi) we are subject to the risk of weaker economic conditions, including without limitation those affecting the paper industry, in the locations around the world where we conduct business, including current turmoil in the credit markets; (xii) we may be required to incur significant costs to reorganize our operations in response to market changes in the paper industry; (xiii) we are subject to the risk of terrorist attacks or an outbreak or escalation of any insurrection or armed conflict involving the United States or any other country in which we conduct business, or any other national or international calamity; (xiv) we are subject to any future changes in government regulation; (xv) we are subject to any changes in U.S. or foreign government policies, laws and practices regarding the repatriation of funds or taxes and (xvi) those other risks described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the period ended December 31, 2007 filed with the Securities and Exchange Commission and subsequent SEC filings. If any of these risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may vary significantly from what we projected. Any forward-looking statement in this press release reflects our current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to our operations, results of operations, growth strategy, and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, whether as a result of new information, future events, or otherwise.
Conway Communications
Jane W. McCahon, 978-443-0160
janewmccahon@earthlink.net