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Adjusted EBITDA rises to 10% in Q2 FY16 at Unifi
21
Jan '16
Unifi Inc, a US based producer of textured and processed yarns, reported a rise in its adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) to 10 per cent in the second quarter of fiscal 2016, ending on December 27, 2015, as compared to 9.7 per cent in the corresponding quarter last fiscal, according to a press statement released by the company.

Adjusted net income in Q2 of fiscal 2016 fell by 23.3 per cent to $6.9 million as compared to $9 million in the second quarter of fiscal 2015. Adjusted EPS for this duration was $0.38 for the second quarter of FY16 as compared to $0.5 for the same period last fiscal.

Net income for Q2 of fiscal 2016 was $6.5 million or $0.36 per basic share as compared to the net income of $9.4 million or $0.52 per basic share. Net sales for this period were $156.3 million as compared to $164.4 million in the previous year's second quarter, a decrease of 4.92 per cent.

Commenting on the results, Roger Berrier, president and COO of Unifi said, “We are very pleased with the strong performance in our domestic operations, which continues to be driven by the increase in synthetic apparel produced in the NAFTA and CAFTA regions and the strength of our premier value-added yarns.”

“The capital investments that we have made to support capacity growth and the production of our premier value-added products are delivering results consistent with our expectations, and they have helped the company offset the negative impact of the currency devaluation in Brazil and loss from Parkdale America in the quarter,” he added. (MCJ)

Fibre2Fashion News Desk - India

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