Pfleiderer Has No Second Quarter Profit

Neumarkt, Germany, Aug. 11, 2008--Pfleiderer AG, parent company of Pergo, said that revenue at the German wood and laminate floor maker won't hit 2 billion euros ($2.99 billion) this year -- it now forecasts sales between 1.8 billion and 1.9 billion euros -- and it won't hit a 15 percent margin target.

Pfleiderer's didn't make a second-quarter profit after earning 10.4 million euros in last year's second quarter, and revenue fell to 449.1 million euros from 458.5 million euros after a plant closure in Canada.

The company said it will cut between 70 and 100 jobs in Poland to offset increased competition in the country.

He said Pfleiderer targets cost cuts of 22 million euros, including savings in energy and raw material costs.

Pfleiderer said sluggish demand as well as the strong Zloty burdened first-half earnings of its Polish operations.