Quaker Fabric Allocates Additional Resources to Penetration of the European Market.Business Editors FALL RIVER, Mass.--(BUSINESS WIRE)--March 23, 2004 QUAKER FABRIC CORPORATION (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Symbol: QFAB) today reported the appointment of an exclusive sales agent to represent it in the European market. "Our Wuppertal, Germany-based sales efforts will be managed by Markus Mueller, a fourteen year veteran of the European fabric market. We are delighted to have Markus heading up this portion of our European sales program," said Larry Liebenow, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Quaker Fabric Corporation. "Situated in the heart of Europe, the new sales office and fabric showroom Markus is responsible for will provide Quaker with outstanding access to Dusseldorf, the fashion capital of Germany, to Cologne and to virtually every major furniture industry player in the region, including fabric distributors and furniture manufacturers with operations in neighboring neigh·bor n. 1. One who lives near or next to another. 2. A person, place, or thing adjacent to or located near another. 3. A fellow human. 4. Used as a form of familiar address. v. countries - Switzerland, Belgium, Luxembourg, Austria, Finland, Poland, France and the Netherlands," Mr. Liebenow continued. With net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $325.3 million during 2003, Quaker Fabric Corporation is a leading manufacturer of woven upholstery fabrics for furniture markets in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and abroad, and the largest producer of Jacquard upholstery fabric in the world. THIS PRESS RELEASE CONTAINS "FORWARD LOOKING STATEMENTS," AS THAT TERM IS DEFINED IN THE FEDERAL SECURITIES LAWS. THE READER IS CAUTIONED THAT SUCH STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND THAT, AS A RESULT OF VARIOUS FACTORS, INCLUDING, BUT NOT LIMITED TO, THE LEVEL OF CUSTOMER DEMAND FOR THE COMPANY'S PRODUCTS, HIGHER THAN ANTICIPATED COSTS AND LOWER THAN ANTICIPATED PRODUCTION RATES, ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE PROJECTED. FOR A FURTHER DISCUSSION OF THESE FACTORS, SEE THE COMPANY'S 2002 FORM 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . |
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