Slight drop in Unifi 2017 Q3 sales

29 Apr '17

2 min read

The net sales of Unifi Inc., one of the world's leading innovators in synthetic and recycled yarns, for the third quarter of 2017 fell to $160.9 million as against $161.3 million in the corresponding quarter of the previous year. Operating income decreased to $9.1 million in the Q3 of 2017 as compared to $10.0 million of the Q3 of fiscal 2016.

"Our international strategy has not only enhanced our ability to serve our customers but also provided us with valuable diversification throughout fiscal 2017. During this fiscal year, strength in the international PVA business has counterbalanced headwinds in the domestic market driven by weak retail sales, elevated inventory levels, and pressure from higher raw material costs. For fiscal 2017, we continue to expect results to be broadly in-line with fiscal 2016," said Tom Caudle, president of Unifi.

Continued strong PVA performance in Asia and Brazil was offset by challenging domestic market conditions and pressures from comparatively higher raw material costs. However, the net income for Unifi, one of the world's leading innovators in synthetic and recycled yarns, fell to $9.2 million for the third quarter of fiscal 2017, compared to net income of $9.7 million for the third quarter of fiscal 2016. (RR)

Fibre2Fashion News Desk – India

More Unifi, Inc., News... More Textiles News - United States Of America...