www.floortrendsmag.com/articles/83443-foamex-expects-third-quarter-net-loss

Foamex expects third quarter net loss

October 16, 2002
LINWOOD, Pa. -- Foamex International Inc. recently announced that the company expects to report a net loss for the third quarter ended September 29, 2002, primarily as a result of previously disclosed price increases from its raw material suppliers, combined with higher than expected SG&A expenses related to one-time fees.

The company expects to report EBITDA in the range of $7 to $9 million for the same period, excluding any restructuring charges or credits.

In light of these results, Foamex has obtained a waiver from its bank lenders of its financial covenants for the period ended September 29, 2002. This waiver will be effective until November 30, 2002.

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