Nov 06, 2012. /Lesprom Network/. Xerium Technologies, Inc. announced the results of its operations for the 3Q, ended September 30, 2012. Compared to the 3Q 2011, net sales decreased 9.4%, or 4.4% on a constant currency basis to $134.2 million, primarily as a result of the decline in Europe. Again, the flow-through effect of this sales decline is the primary driver of a 14.7% decrease in Adjusted EBITDA to $24.4 million in the 3Q 2012 from $28.6 in the 3Q 2011, as the company said in the press release received by Lesprom Network. Year to date, net sales decreased 8.3% or 4.3% on a constant currency basis, to $405 million from $441.8 million, contributing to a decrease in Adjusted EBITDA of 19.2% to $68.6 million in 2012 from $84.9 million in 2011. The Company continued its debt reduction program during the quarter with additional net debt retirement of $5.7 million. On a year to date basis, net debt has been paid down $20.6 million and stands at $447.8 million as of September 30, 2012. Gross profit decreased by 3.5% to $49.2 million in the 3Q 2012 from $51 million in the 2Q 2012, and decreased 9.2% from $54.2 million in the 3Q 2011. While lower sales volume contributed to the majority of these decreases, higher material costs and unfavorable production absorption contributed to the decreases as well. Net income for the 3Q 2012 decreased to a loss of $3.7 million or $0.24 per diluted share, compared to net income of $2.2 million or $0.15 per diluted share for the 2Q 2012 and net income of $3.5 million or $0.23 per diluted share for the 3Q 2011. Commenting on the quarter, Harold Bevis, Xerium's President and CEO stated: "Demand in the global markets we serve is reactive to base economic health. We are committed to leading in the markets we serve. However, year-over-year sales in our traditional markets are down sharply and we must right size our cost structure around that reality. We are in the process of reducing our cost structure and advancing our capabilities technically in all regions. To that end, we are both continuing the implementation of the “Vision 2015” restructuring plan, which is expected to save $20 million upon completion, and we are adding significant new cost saving and revenue diversification actions." Xerium Technologies, Inc. is a leading global manufacturer and supplier of two types of consumable products used primarily in the production of paper-clothing and roll covers.