Welcome to our dedicated page for Unifi news (Ticker: UFI), a resource for investors and traders seeking the latest updates and insights on Unifi stock.
UNIFI, Inc. manufactures and sells recycled and synthetic yarns, with company updates centered on REPREVE-branded products, polyester and nylon yarn categories, and segment conditions in the Americas, Brazil and Asia. Its yarns are used by manufacturers, knitters and weavers serving apparel, hosiery, home furnishings, automotive, industrial and other end markets.
Recurring news covers quarterly operating results, cash flow, debt levels, cost and footprint actions, demand volatility, trade and tariff conditions, and product innovation. Product announcements include Luxel, a linen-inspired performance yarn; ThermaLoop insulation powered by REPREVE Textile Takeback; REPREVE Takeback circular polyester; FiberPrint tracer technology; and U-TRUST recycled-content verification.
Unifi, Inc. (NYSE: UFI) announced the election of Emma Battle to its Board of Directors effective January 25, 2021. Ms. Battle, founder and CEO of MarketVigor and President of Higher Ed Works, brings over 30 years of marketing and strategy experience from notable firms like Hanesbrands, PepsiCo, and Red Hat. Executive Chairman Al Carey expressed excitement over her addition, highlighting her relevant expertise as a significant asset for Unifi's future growth. Ms. Battle aims to leverage her experience to enhance Unifi's innovative sustainability initiatives.
On January 19, 2021, Unifi, Inc. (NYSE: UFI) announced a conference call scheduled for January 28, 2021, at 8:30 a.m. ET to discuss its second quarter fiscal 2021 financial results. Supporting materials will be available after market close on January 27, 2021, on the company’s investor website. The call can be accessed via phone or through a live audio webcast. Unifi is recognized for its innovative textile solutions, including its REPREVE technology, which has recycled over 23 billion plastic bottles into performance fibers for various consumer products.
Unifi, Inc. (NYSE: UFI) reported a net sales decrease of 21% year-over-year to $141.5 million for the first quarter of fiscal 2021, yet a 64% sequential increase from Q4 2020. REPREVE® Fiber sales reached a record 35% of total sales. Gross margin improved to 10.3%, up 60 basis points, while net income was $3.4 million, or $0.18 per share. The company achieved a net debt reduction to $17.3 million, its lowest in over 20 years. A strategic acquisition of texturing assets aimed to enhance capabilities was completed in October 2020. Outlook for fiscal 2021 anticipates continued recovery in sales and profitability.
Unifi, Inc. (NYSE: UFI) will host a conference call on October 27, 2020, at 8:30 a.m. ET to discuss its first quarter fiscal 2021 financial results. Results will be available on October 26, 2020, after market close. Interested parties can join the call by dialing (877) 359-9508 (Domestic) or (224) 357-2393 (International) with conference ID 4063398. A live audio webcast will also be accessible on the company's website. Unifi is known for its innovations in synthetic and recycled performance fibers, notably transforming over 23 billion plastic bottles into recycled fiber.
Unifi, Inc. (NYSE: UFI) reported a fourth quarter fiscal 2020 net loss of $20.2 million, or $1.10 per share, down from a profit of $1.0 million in the same period last year. Net sales fell to $86.1 million, a 52.1% decline year-over-year. The company generated strong cash from operations amounting to $20.6 million, driven by inventory and cost reductions. Post-pandemic recovery is expected, with a focus on improved sales and operational performance for fiscal 2021, despite ongoing market challenges. Cash and cash equivalents rose to $75.3 million, significantly enhancing liquidity.
Unifi, Inc. (NYSE: UFI) will host a conference call on August 6, 2020, at 8:30 a.m. ET to discuss its fourth quarter fiscal 2020 financial results. The financial results and supporting materials will be available after market close on August 5, 2020, on the company's website. Investors can access the call by dialing (877) 359-9508 (Domestic) or (224) 357-2393 (International), using conference ID 6854226. A replay will be available post-call until August 13, 2020.