Xerium Technologies, which makes equipment for the papermaking industry, reported today that its shares face delisting from the New York Stock Exchange, again.
The Youngsville-based company was first notified last December by the NYSE that its shares didn't meet minimum listing requirements. Xerium avoided delisting partly because its stock rose above $1 in June.
The stock closed below $1 again on Nov. 6, and hasn't recovered. Today, the stock fell 2 cents to close at 65 cents.
Delisting would force Xerium to find another market for its stock to trade. And analysts and investors tend to shun stocks that are delisted for failing to meet minimum requirements.
The company has been cutting costs, including jobs, to offset slowing sales of its products during the recession. Xerium also is trying to revise terms its debt and could be forced to seek bankruptcy protection if it can't.