Pfleiderer Operating Loss Doubles in Quarter

Neumarkt, Nov. 11, 2010 -- Pfleiderer AG posted revenue of 381.4 million euros in the third quarter, an increase of 9.8% compared to the prior-year period.

Exchange-rate effects were responsible for approximately six percentage points of the increase; the rest was primarily due to higher prices, the company said.

Despite the revenue growth, gross profit decreased from 80.3 million euros to 76.5 million euros, mostly due to a significant increase in raw material prices.

The result of continuing operations before taxes amounted to a loss of 28.3 million euros, compared with a loss of 14.1 million euros for the prior-year quarter.

The company said it is considering various restructuring options.