Home / Knowledge / News / Apparel/Garments / Net sales for Q1FY16 slip 7.54% at Unifi
Net sales for Q1FY16 slip 7.54% at Unifi
Oct '15
Net sales for the first fiscal quarter ended September 27, 2015 at recycled fibre producer Unifi Inc slipped 7.54 per cent from a fiscal ago period.

“Net sales were $162.2 million for the first quarter of fiscal 2016 compared to $175.5 million for the prior fiscal quarter,” the company said in a press release while releasing the first quarter preliminary results.

It added that the decline was primarily due to the significant devaluation of the Brazilian Real and pricing declines due to lower raw material costs.

However, Unifi increased operating income by more than $2.0 million over the prior fiscal comparable quarter due to the strong performance of its regional texturing business and value-added products.

There was also margin improvement in its subsidiary in China and in addition, the company had an increase in volumes from its polyester segment.

Gross profit in the reporting quarter improved to $21.0 million or 12.9 per cent of net sales from $20.5 million or 11.6 per cent of net sales in the previous fiscal's first quarter.

Unifi reported an adjusted EBITDA of $15.4 million in the first quarter of fiscal 2016, an improvement from $14.0 million for the first quarter of earlier fiscal.

Net income for the first quarter ended September 27, 2015 was $8.0 million or $0.45 per basic share as against net income of $7.1 million or $0.39 per basic share in the first quarter of fiscal 2015.

“These results reflect improved performance for our consolidated operations, along with a lower effective tax rate, and were achieved despite lower earnings from Parkdale America, LLC,” it explained.

"We continue to see improvements in the areas of our business that we are supporting through strategic capital expenditures," said Roger Berrier, president and chief operating officer of Unifi.

"The Company is supporting growth with several capital investments, including the expansion of our existing Repreve Recycling Center and the construction of a plastic bottle processing plant,” he too added.

“We will also explore opportunities to meet increased demand in the NAFTA and CAFTA regions over the next 18 months as the region continues to grow at an average annual rate of around five per cent,” Berrier stated.

Cash and cash equivalents were $10.0 million as of September 27, 2015, flat compared to cash and cash equivalents as of June 28, 2015.

Net debt or total debt less cash and cash equivalents as on September 27, 2015 was $118.3 million vis-à-vis $94.1 million at June 28, 2015. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Amrit Sethia

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search