941 Grinnell St..
Fall River, Mass. 02721
(508) 678-1951; fax (508) 646-2277
e-mail: ir@quakerfabric.com
Web site: www.quakerfabric.com
Employees: 2,469
Quaker Fabric, a leading designer and manufacturer of woven upholstery products
for residential furniture, completed what the company described as a very strong
year in December, with record net sales, more than 20 percent higher than the
previous year. The company attributed the gain to its ability to build profitable
volume in an industry where conditions began to weaken in the second quarter.
The company made substantial technological investments, in what it called state
of the art systems, along with substantial effort and investment in workplace
recruitment and training.
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Stock Information
Exchange:Nasdaq
Symbol: QFAB
Annual meeting: May 17, 2001
Shares of common stock outstanding as of April 2, 2001: 15,722,610
Stock price as of Thursday, April 26, 2001: $8.01
Market value as of Thursday, April 26, 2001:: $125,938,106
12-month high stock price: $9.13
12-month low stock price: $3.31
Operating Results
(Dollars in thousands, except per share data)
| For the years ending Dec. 31, |
2000
|
1999
|
1998
|
| Net sales |
$302,985
|
$251,364
|
$253,297
|
| Net income |
10,945
|
2,073
|
5,770
|
| Net income per share |
0.70
|
0.13
|
0.42
|
| Total assets |
246,036
|
237,482
|
N/A
|
| Long-term debt |
29,727
|
28,382
|
N/A
|
Directors
Sangwoo Ahn, 62, director since 1993, chairman of the board of directors
of the company, and a general partner in the investment banking firm of Morgan
Lewis Githens & Ahn. Shares: 540,747
Larry A. Liebenow, 57, director since 1989, president and chief executive
officer of the company. Shares: 3,063,094
Jerry I. Porras, 62, director since 1997, the Lane Professor of organizational
behavior and change at Stanford University’s Graduate School of Business. Shares:
87,866
Eriberto R. Scocimara, 65, director since 1993, president and chief executive
officer of the Hungarian-American Enterprise Fund, a private tax-exempt Delaware
Corporation established to promote private enterprise in Hungary. Shares: 44,166
Directors’ fees
Each non-employee director receives an annual retainer of $25,000 and fees of
$1,000 for each board or committee meeting attended.
Top institutional holders
Wellington Management Co., 1,215,000 shares
Dimensional Fund Advisors, Inc., 1,141,700 shares
Benson Associates, LLC, 738,391 shares
Executive compensation
|
Fiscal Year
|
2000
|
1999
|
|
Larry A. Liebenow, president and chief
executive officer |
$828,120
|
$600,000
|
|
M. Beatrice Spires, vice president, styling
and design |
$345,720
|
$228,176
|
|
Mark Hellwig, vice president, supply chain
management |
$336,980
|
$276,00
|
|
Anthony Degomes, vice president, new business
development |
$287,981
|
$226,400
|
|
Duncan Whitehead, vice president, research
and development |
$276,040
|
$195,561
|
*Executive compensation includes salary, bonuses and other compensation, including
life insurance, cash profit sharing and other payments.
Source: Proxy statement, annual report, quarterly reports, and other PBN research
