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 (NYSE: UFI) has enhanced the transparency of its REPREVE recycled fiber brand by obtaining Higg Materials Sustainability Index (Higg MSI) scores, confirming a 21% reduction in global warming potential compared to generic recycled polyester and 42% compared to virgin polyester. The Higg MSI scores validate REPREVE's lower carbon footprint and support sustainability goals for organizations and consumers. Unifi’s commitment to sustainability is reflected in its Life Cycle Assessment, contributing positively to environmental impacts.
Unifi, Inc. (NYSE: UFI) reported strong Q3 results for fiscal 2021, with net sales of $178.9 million, up 4.6% year-over-year, and 9.9% sequentially. The gross profit surged 66% to $25.6 million, aided by strong performance in Brazil and Asia. The company achieved net income of $4.8 million, a significant recovery from a previous loss of $41.1 million. Adjusted EBITDA rose 70.1% to $15.9 million. The outlook remains optimistic with anticipated sales increases and effective management of inflationary pressures.
Unifi, Inc. (NYSE: UFI) announced a conference call scheduled for April 29, 2021, at 8:30 a.m. ET to discuss its third quarter fiscal 2021 financial results. The financial results will be published on April 28, 2021, after market close and available on its website. Investors can access the call by dialing (877) 359-9508 (domestic) or (224) 357-2393 (international) with conference ID 5487277. A replay will be offered until May 6, 2021.
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Unifi, Inc. (NYSE: UFI) reported second quarter fiscal 2021 results with net sales of $162.8 million, a 4.0% decline year-over-year but a 15.0% increase from the previous quarter. REPREVE® Fiber products accounted for 37% of net sales, setting a quarterly record. Gross profit rose to $25.9 million, up 66% year-over-year, yielding a gross margin of 15.9%. Net income was $7.5 million ($0.40 EPS), significantly higher than $0.4 million from a year ago. The company also reported Net Debt at $9.6 million, the lowest in over 20 years.
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.