Xerium Technologies Inc., a paper products manufacturing company, reported a second-quarter loss and revenue that came in lower than analyst expectations, according to a news release.

The Youngsville, North Carolina-based company reported a net loss of $3.4 million, or negative 21 cents per share, after reporting a profit of $2.1 million in the second quarter of 2016. Adjusted for non-recurring costs, earnings were 8 cents per share, below expectations of 14 cents per share.

Revenue of $120.3 million for the quarter was lower than revenue of $124 million in the second quarter of 2016 and below estimates of $124.1 million.

“We reported a strong result in the second quarter of 2017, marking a notable margin improvement as our restructuring efforts wind down and our global facilities shift to execution and efficiency,” said Chief Executive Officer Mark Staton in a statement.

Xerium’s shares closed Tuesday at $7.03, down 24 cents, or 3.3 percent.

The company’s gross profit for the quarter was $48.9 million, or 40.6 percent of net sales, compared to $48.2 million, or 38.9 percent of net sales, in the same quarter a year ago.

However, selling, general and administrative expenses were were $33.1 million, or 27.5 percent of net sales, in the quarter versus $30.7 million, or 24.8 percent of net sales, in the same quarter of 2016.

The company said it incurred costs of $3 million in replacing its CEO in May, when Staton took over.