Exhibit 99.1  Polymer Group, Inc.9335 Harris Corners ParkwaySuite 300Charlotte, NC 28269www.polymergroupinc.com704-697-5100  Polymer Group, Inc.
Announces First Quarter Results  For
Immediate Release  Wednesday, May 13, 2009  [Charlotte, NC] Polymer Group, Inc. (OTC
Bulletin Board: POLGA/POLGB) (PGI) announced results of operations for the
first quarter ended April 4, 2009.  Operational
highlights included:  ·Profitability
improved significantly over the prior year with first quarter gross profit up
22.7% to $52.6 million, representing a gross profit margin of 23.2% compared to
15.7% for the first quarter of 2008. Operating income for the quarter was $22.2
million, 83.0% higher than the prior year period, and net income attributable
to PGI was $9.6 million compared to $1.4 million in the first quarter of 2008;  ·Sales of $227.2
million for the first quarter were 17.0% lower than the prior year period due
primarily to a reduction in industrial sales volumes combined with changes in
foreign currency exchange rates and lower selling prices reflecting lower raw
material costs;  ·Cash flows from
operations for the first quarter of 2009 increased 56.8% over the first quarter
of 2008 to $24.0 million, resulting in cash balances of $54.3 million at
quarter end;  ·The company
successfully reduced debt through the repurchase of $15.0 million of principal
amount of its senior secured term loan during the quarter, generating a gain of
$2.4 million;  ·Adjusted EBITDA, as
defined in the companys credit agreement and which included the benefits of
the $2.4 million gain from the repurchase of debt, was $40.5 million for the
first quarter compared to $27.3 million the prior year. Adjusted EBITDA, a
non-GAAP financial measure, is defined and reconciled to net income below; and  ·During the month of
April, the company completed the installation of its state-of-the-art spunmelt
line in Mexico to serve the North American hygiene and medical markets.  Net
sales for the first quarter of 2009 were $227.2 million compared to $273.8
million in the first quarter of 2008 and $280.0 million in the previous
quarter.  The decline in sales was
primarily drivenby the impact of lower
product volume sales in the industrial markets coupled with lower overall
selling prices to reflect lower raw material costs. Additionally, foreign
currency translation rates impacted sales by approximately $11.0 million as
most currencies weakened against the U.S. dollar.  In the Nonwovens segment, volumes declined
$18.4 million, predominantly in the U.S. and Europe. The sales volume
declines in the U.S. and Europe were primarily due to a U.S. plant closure in
the third quarter of fiscal 2008, and recessionary impacts that are negatively
affecting the


industrial and wiping businesses located in the U.S.
and European regions.  However, U.S.
nonwoven roll goods volume in the industrial markets was up 5% in aggregate
year-over-year. This was the net result of a 54% increase in spunbond
industrial volumes and a 46% decrease in fiber-based product volumes
representing the companys efforts to improve its profit profile in the U.S.
industrial markets and develop new applications for existing technology. Sales
in the Nonwovens segment were also negatively impacted by lower selling prices
of $11.9 million primarily due to price decreases resulting from the
pass-through of lower raw material costs. The Oriented Polymers segment sales
volumes were lower by $8.6 million and continued to be negatively impacted by
reduced housing starts affecting the segments industrial business, imported
commodity products affecting lumberwrap volumes, and recessionary impacts.  Gross profit increased 22.7%, or $9.7 million,
compared to the prior year and represented a gross profit margin of 23.2%
compared to 15.7% for the first quarter of 2008. Though volumes were lower, raw
material costs during the quarter were reduced by $35.5 million while the
combination of price and mix changes declined only $9.4 million. Although the
average unit cost of raw materials in the first quarter was lower than the
fourth quarter, there has been a moderate increase in the cost of certain raw
materials, specifically polypropylene resin, during the first quarter.
Additionally, the company expects to see reductions in contracted selling
prices in the second quarter of 2009 due to the quarterly lag effect of the
recent decline in average raw material costs for the first quarter of 2009
versus the fourth quarter of 2008. Due to these factors, the company expects to
experience a decline in gross profit margin during the second quarter versus
the gross profit margin generated for the first quarter of fiscal 2009.  Operating
income for the first quarter of 2009 was $22.2 million, compared to $12.1
million in the first quarter of the prior year. Sales, general and
administrative (SG&A) expenses were $2.8 million lower than the first
quarter of 2008 and $3.4 million lower on a sequential quarter basis. The
year-over-year savings were primarily the result of lower incentive
compensation costs and changes in foreign currency exchange rates.The company recognized special charges of $2.9 million during
the quarter, of which $1.6 million were non-cash impairment charges related to
the write-down of assets held for sale in Germany to their fair market value.
The remaining $1.3 million was associated with the previously announced
restructuring initiatives in North America and Europe.Special
charges were $15.2 million in the fourth quarter of 2008 and were $1.4 million
in the first quarter of 2008.  The
company successfully initiated debt repurchase activities in the first quarter
and was able to purchase $15 million of its senior secured term loan in open
market transactions below par value. The difference in the principal amount and
the aggregate purchase costs resulted in a gain on the reacquisition of debt of
$2.4 million during the quarter. Additionally, interest
expense was $1.1 million lower than the first quarter of 2008 as the company
reduced overall debt balances, and interest rates were lower.  Net
income attributable to Polymer Group, Inc. for the quarter was $9.6
million, or $0.49 per fully diluted share, compared to $1.4 million, or $0.07
per fully diluted share, for the same period the prior year.  PGIs
chief executive officer, Veronica (Ronee) Hagen, stated, PGI started 2009 in a
very positive way. We previously stated that we expected a strong first quarter
and our results were ahead of expectations. We were able to fully benefit from
the volatility of the raw material markets even in a tough economic
environment. Our consumer disposable volumes were relatively stable during the
quarter with the most significant impacts seen in the industrial markets as
expected. While we do not anticipate sustaining the margins achieved in the
first quarter, we still expect the remainder of  2


the
year to show solid results. Additionally, we were able to take advantage of our
strong results and improve the efficiency of our cash to further strengthen our
balance sheet with our debt repurchase activities during the quarter.  We
continued to position ourselves for leadership with the completion of the
installation of our new, state-of-the-art capacity at our plant in San Luis
Potosi, Mexico. This strategic investment will enable us to better serve
customers throughout North America in the hygiene and medical markets. Our
operation in Mexico has a strong track record of successful capacity start-ups
as evidenced by the contributions from the latest line installed in 2004. We will continue to build on our capabilities to provide
customers the best value proposition in the industry as we focus on both
internal core processes and new product deliveries in 2009.  ADJUSTED
EBITDA  Adjusted
EBITDA, a non-GAAP financial measure defined below, for the first quarter of
2009 was $40.5 million and includes the $2.4 million gain on the reacquisition
of debt during the quarter.  Adjusted
EBITDA was $27.3 million in the first quarter of 2008 and $36.2 million in the
fourth quarter of 2008.  NON-GAAP FINANCIAL MEASURE  Adjusted EBITDA (as defined below) is used in this
release as a non-GAAP financial measure, which is a measure of the companys
financial performance that is different from measures calculated and presented
in accordance with generally accepted accounting principles, or GAAP, within
the meaning of applicable SecuritiesandExchange Commission rules.  A non-GAAP
financial measure, such as EBITDA or Adjusted EBITDA, should not be viewed as
an alternative to GAAP measures of performance such as(1) net
income determined in accordance with GAAP or (2) operating cash flows
determined in accordance with GAAP. The calculation of Adjusted EBITDA may not
be comparable to the calculation of similarly titled measures reported by other
companies.  As
defined in the companys credit agreement, Adjusted EBITDA equals net income
(loss) before income and franchise tax expense (benefit), interest expense,
net, depreciation and amortization, minority interests net of cash
distributions, write-off of loan acquisition costs, non-cash compensation,
foreign currency gain and losses, net, and special charges, net of unusual or
non-recurring gains. The company presents Adjusted EBITDA, as defined in its
credit agreement, as the measurement used as a basis for determining compliance
with several covenants thereunder.  It is
also generally consistent with the metric used by management as a performance
measurement for certain performance-based incentive compensation plans.  In addition, the company considers Adjusted
EBITDA an important supplemental measure of its performance and believes it is
frequently used by securities analysts, investors and other interested parties
in the evaluation of companies in its industry.  Included in this release is a reconciliation of net
income to Adjusted EBITDA, which illustrates the differences in these measures
of operating performance.  Polymer Group, Inc., one of the worlds leading
producers of nonwovens, is a global, technology-driven developer, producer and
marketer of engineered materials. With the broadest range of process
technologies in the nonwovens industry, PGI is a global supplier to leading
consumer and industrial product manufacturers. The company operates 17
manufacturing and converting facilities in 8 countries throughout the world.  3


Safe Harbor Statement  Except for historical information contained herein, the matters set
forth in this press release are forward-looking statements, within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, that involve certain risks and uncertainties
that could cause actual results to differ materially from those described in
the forward-looking statements. These forward-looking statements speak only as
of the date of this release.  Important
factors that could cause actual results to differ materially from those
discussed in such forward-looking statements include: general economic factors
including, but not limited to, changes in interest rates, foreign currency
translation rates, consumer confidence, trends in disposable income, changes in
consumer demand for goods produced, and cyclical or other downturns; cost and
availability of raw materials, labor and natural and other resources and the
inability to pass raw material cost increases along to customers; changes to
selling prices to customers which are based, by contract, on an underlying raw
material index; substantial debt levels and potential inability to maintain
sufficient liquidity to finance our operations and make necessary capital
expenditures; inability to meet existing debt covenants; achievement of
objectives for strategic acquisitions and dispositions; inability to achieve
successful or timely start-up on new or modified production lines; reliance on
major customers and suppliers; domestic and foreign competition; information
and technological advances; risks related to operations in foreign
jurisdictions; and changes in environmental laws and regulations. Investors and
other readers are directed to consider the risks and uncertainties discussed in
documents filed by Polymer Group, Inc. with the Securities and Exchange
Commission, including the companys Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q.  For further information,
please contact:  Dennis Norman Vice President  Strategy &
Corporate Development (704) 697-5186 normand@pginw.com  4


POLYMER GROUP, INC. Consolidated Statements of Operations (Unaudited) Three Months Ended April 4, 2009, Three Months Ended January 3, 2009 and Three Months Ended March 29, 2008 (In Thousands, Except Per Share Data)  Three Months
  
  Three Months
  
  Three MonthsEnded
  
  Ended
  
  EndedApril 4,
  
  January 3,
  
  March 29,2009
  
  2009
  
  2008Net sales
  
  $
  227,243
  
  $
  279,954
  
  $
  273,773Cost of goods
  sold
  
  174,615
  
  226,905
  
  230,867Gross profit
  
  52,628
  
  53,049
  
  42,906Selling, general
  and administrative expenses
  
  27,877
  
  31,261
  
  30,700Special charges,
  net
  
  2,891
  
  15,244
  
  1,363Other operating
  (income) loss, net
  
  (348
  )
  4,518
  
  (1,292
  )Operating income
  
  22,208
  
  2,026
  
  12,135Other expense (income):Interest
  expense, net
  
  7,618
  
  8,490
  
  8,707Gain on
  reacquisition of debt
  
  (2,431
  )
  
  
  Other loss, net
  
  2,160
  
  1,817
  
  487Income (loss)
  before income taxes
  
  14,861
  
  (8,281
  )
  2,941Income tax
  expense (benefit)
  
  7,182
  
  (1,313
  )
  1,624Net income
  (loss)
  
  $
  7,679
  
  $
  (6,968
  )
  $
  1,317Net loss
  attributable to noncontrolling interests
  
  1,877
  
  5,095
  
  107Net income
  (loss) attributable to Polymer Group, Inc.
  
  $
  9,556
  
  $
  (1,873
  )
  $
  1,424Average common
  shares outstanding  - Basic
  
  19,387
  
  19,296
  
  19,197- Diluted
  
  $
  19,388
  
  $
  19,332
  
  $
  19,378Income (loss)
  per common share:Basic
  
  $
  0.49
  
  $
  (0.10
  )
  $
  0.07Diluted
  
  $
  0.49
  
  $
  (0.10
  )
  $
  0.07  5


POLYMER GROUP, INC. Condensed Consolidated Balance Sheets (Unaudited) (In Thousands)  April 4,
  
  January 3,2009
  
  2009ASSETSCurrent assets:Cash and cash
  equivalents
  
  $
  54,271
  
  $
  45,718Accounts
  receivable, net
  
  119,880
  
  134,003Inventories
  
  109,372
  
  121,906Other
  
  35,209
  
  31,758Total current
  assets
  
  318,732
  
  333,385Property, plant
  and equipment, net
  
  334,982
  
  347,590Intangibles and
  loan acquisition costs, net
  
  7,499
  
  8,156Other assets
  
  16,383
  
  13,331Total assets
  
  $
  677,596
  
  $
  702,462LIABILITIES AND SHAREHOLDERS EQUITYCurrent
  liabilities:Accounts payable
  and accrued liabilities
  
  $
  113,031
  
  $
  133,820Current portion
  of long-term debt and short-term borrowings
  
  48,535
  
  21,160Other
  
  6,220
  
  4,266Total current
  liabilities
  
  167,786
  
  159,246Long-term debt
  
  350,660
  
  392,505Other noncurrent
  liabilities
  
  58,302
  
  57,500Total
  liabilities
  
  576,748
  
  609,251Total PGI
  shareholders equity
  
  89,786
  
  80,272Noncontrolling
  interests
  
  11,062
  
  12,939Total equity
  
  100,848
  
  93,211Total
  liabilities and equity
  
  $
  677,596
  
  $
  702,462  6


POLYMER GROUP, INC. Selected Financial Data (Unaudited) (In Thousands)  Three Months
  
  Three Months
  
  Three MonthsEnded
  
  Ended
  
  EndedApril 4,
  
  January 3,
  
  March 29,2009
  
  2009
  
  2008Selected
  Financial DataDepreciation and
  amortization expense included in operating income
  
  $
  12,365
  
  $
  12,561
  
  $
  12,788Noncash
  compensation costs included in operating income
  
  $
  423
  
  $
  507
  
  $
  1,849Amortization of
  loan acquisition costs
  
  $
  335
  
  $
  370
  
  $
  345Capital
  expenditures
  
  $
  3,439
  
  $
  5,863
  
  $
  12,579Special charges,
  netAsset Impairment
  charges
  
  $
  1,600
  
  $
  13,096
  
  $
  Restructuring
  and plant realignment costs
  
  1,284
  
  2,126
  
  1,352Other
  
  7
  
  22
  
  11$
  2,891
  
  $
  15,244
  
  $
  1,363Other operating
  (income) loss, net including Foreign Currency (Gain) LossUnited States
  
  $
  (134
  )
  $
  (1,412
  )
  $
  163Canada
  
  30
  
  (821
  )
  (263
  )Europe
  
  (477
  )
  127
  
  359Asia
  
  11
  
  24
  
  317Latin America
  
  222
  
  6,600
  
  (1,868
  )$
  (348
  )
  $
  4,518
  
  $
  (1,292
  )Adjusted
  EBITDAThe following
  table reconciles Adjusted EBITDA to net income (loss) attributable to Polymer
  Group Inc. for the periods presented:Net income
  (loss) attributable to Polymer Group, Inc.
  
  $
  9,556
  
  $
  (1,873
  )
  $
  1,424Income &
  franchise tax expense (benefit)
  
  7,453
  
  (1,741
  )
  2,237Interest
  expense, net
  
  7,618
  
  8,490
  
  8,707Depreciation and
  amortization expense included in operating income
  
  12,365
  
  12,561
  
  12,788Minority
  interests, net of tax & cash disbursements
  
  (1,877
  )
  (5,095
  )
  (107
  )Non-cash
  compensation
  
  423
  
  506
  
  1,849Foreign currency
  (gain) loss, net
  
  2,067
  
  8,219
  
  (991
  )Special charges,
  net
  
  2,891
  
  15,244
  
  1,363Other charges
  (gains), net
  
  5
  
  (161
  )
  Adjusted EBITDA
  
  $
  40,501
  
  $
  36,150
  
  $
  27,270  7