SHELTON, CT — Panolam Industries Intl Inc., a designer, manufacturer and distributor of decorative and industrial laminates in North America, on May 16 reported its consolidated net sales for the three months ended March 31 of $101.2 million, gross profit of $19.4 million and net income (loss) of $(0.5) million, according to Business Wire.

The net sales of $101.2 million in the three months ended March 31 compared to $112.4 million for the three months ended March 31, 2007, represent a decrease of approximately 10% in U.S. dollars and approximately 13% in local currencies, and are primarily attributable to lower high pressure laminate and thermally-fused melamine sales, which declined approximately 12% and 11%, respectively.

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