Xerium (XRM) 8-K Xerium Technologies Reports Third Quarter Results

EXHIBIT 99.3

Xerium Technologies, Inc.

Reconciliation of Trailing Twelve Month Bank Adjusted EBITDA

	Q2 2006		Q3 2006			Q4 2006			Q1 2007			Q2 2007			Q3 2007			Q4 2007			Q1 2008			Q2 2008			Q3 2008		Q4 2008			Q1 2009			Q2 2009			Q3 2009
Net income (loss)	$	13,105	$	2,240		$	3,508		$	3,041		$	7,678		$	7,076		$	(168,007	)	$	(4,709	)	$	14,118		$	21,536	$	(4,349	)	$	(9,448	)	$	1,601		$	(7,381	)
Income tax provision (benefit)		3,686		1,963			2,510			1,401			4,604			3,208			(11,558	)		3,639			1,911			794		(2,443	)		3,892			2,697			3,424
Interest expense, net		8,386		14,484			10,930			12,187			11,155			13,995			15,789			25,221			766			16,230		16,287			15,957			15,570			16,425
Depreciation and amortization		11,313		11,619			11,480			10,999			11,230			11,465			11,846			12,003			11,956			11,738		10,231			9,788			10,130			10,851
EBITDA		36,490		30,306			28,428			27,628			34,667			35,744			(151,930	)		36,154			28,751			50,298		19,726			20,189			29,998			23,319
Unrealized foreign exchange gain on revaluation of debt		1,465		(322	)		(571	)		19			(20	)		519			3,680			(1,985	)
Amendment/termination costs							116															800			5,198			483		285
Change in fair value of interest rate swaps																									13,704			450		(468	)		(398	)		(397	)		(859	)
Changes in value of other derivatives																(451	)		(3,503	)		(2,126	)
Restructuring expenses		176		1,274			969			4,133			1,220			805			1,186			532			2,651			1,817					114			1,026			87
Inventory write-offs under restructuring programs										14			80			(21	)		75									199		256			103			142			104
Growth program costs										617			1,587			1,255			1,197			1,764
Non-cash compensation and related expenses		779		389			561			535			660			578			(24	)		471			(197	)		500		1,235			161			885			778
Non-cash impairment charges							2,095												185,689						67			405		3,517									1,667
Non-recurring expenses resulting from cost reduction programs		1,030		561			5,009			(102	)		34						150
Adjusted EBITDA for the quarter	$	39,940	$	32,208		$	36,607		$	32,844		$	38,228		$	38,429		$	36,520		$	35,610		$	50,174		$	54,152	$	24,551		$	20,169		$	31,654		$	25,096
Adjusted EBITDA for the last twelve months (LTM)									$	141,599		$	139,887		$	146,108		$	146,021		$	148,787		$	160,733		$	176,456	$	164,487		$	149,046		$	130,526		$	101,470

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Xerium Technologies, Inc.

Reconciliation of Total Working Capital as a Percentage of Revenue

	Q1 2008		Q2 2008		Q3 2008		Q4 2008		Q1 2009		Q2 2009		Q3 2009
Net Sales	158,987		170,393		159,307		149,452		116,503		120,843		130,308
Accounts Receivable	111,561		110,126		97,732		94,049		76,649		77,331		81,745
Inventory	118,658		118,328		96,245		85,543		84,565		86,259		82,128
Less: "Trade AP" (per calculation below)	42,135		40,131		33,934		40,801		30,099		27,341		25,213
Total Working Capital	188,084		188,323		160,043		138,791		131,115		136,249		138,660
% of Net Sales	29.6	%	27.6	%	25.1	%	23.2	%	28.1	%	28.2	%	26.6	%
Calculation of Trade AP
Accounts Payable	48,699		46,102		39,968		53,076		35,184		30,172		27,703
Less:Deposits Received	(1,596	)	(3,257	)	(4,243	)	(2,558	)	(3,692	)	(2,074	)	(1,550	)
Less: Other Payables	(4,969	)	(2,715	)	(1,792	)	(9,718	)	(1,394	)	(758	)	(941	)
Trade AP	42,135		40,131		33,934		40,801		30,099		27,341		25,213