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Unifi, Inc. (symbol: UFI) is a leading innovator in the global textile industry, renowned for its manufacturing and sale of synthetic and recycled products. Headquartered in North Carolina, Unifi has established a strong domestic and international presence with manufacturing facilities in Yadkinville, Madison, and Reidsville, NC, and operations extending to Brazil, Central America, and China.
Unifi's core business revolves around producing high-quality polyester and nylon yarns. Their product line includes partially oriented yarn (POY), textured, solution and package dyed, twisted, beamed, and draw wound yarns, available in both virgin and recycled varieties. Unifi's offerings cater to various sectors, including apparel, hosiery, home furnishings, automotive, and industrial markets.
Committed to sustainability, Unifi operates its own recycling center and implements extensive recycling practices. The company collects and reuses motor oil to heat its maintenance facility, recycles water within its system, and reclaims energy from dye baths and drying equipment. Unifi's continuous research and innovation efforts aim to develop ecologically sound solutions and products.
Unifi's products are featured by prominent brands and retailers such as Ford, Patagonia, North Face, and Vitamin A Swimwear, reflecting the company's significant impact on the industry. The company offers a range of specialized yarns, premium value-added (PVA) yarns, and commodity yarns, serving principal geographic markets in the Americas, Europe, and Asia.
Recently, Unifi has achieved notable milestones, including expanding its international footprint and enhancing its product offerings to meet the growing demand for sustainable and innovative textile solutions. The company's commitment to green practices and continuous improvement underscores its role as a leader in the textile industry.
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.
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.
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