Foamex Q1 Loss Nearly Double Last Year

Linwood, PA, May 9, 2008--Foamex International Inc. said it lost $48.6 million, or $2.05 per diluted share, compared to a net loss of $17.6 million, or $1.04 per diluted share, in the first quarter of 2007.

“While the deterioration of the U.S. economy continues to impact our volumes, we remain focused on our efforts to reduce costs, streamline operations, and develop new products, markets and channels in order to position the company for future growth,” said CEO Jack Johnson.

Net sales for the first quarter were $241 million, down from $306 million in the first quarter of 2007. The company reported lower sales volumes across all segments and lower average selling prices in the carpet cushionsegment. Gross profit was $21.2 million, or 9 percent, compared to $39.7 million, or 13 percent, in the first quarter of 2007.