Home / Knowledge / News / Textiles / Unifi announces Q2 results
Unifi announces Q2 results
Feb '08
Unifi Inc released operating results for its second quarter ended December 23, 2007.

Net income for the current quarter, including discontinued operations, was a net loss of $7.7 million or $0.13 per share compared to a net loss of $18.2 million or $0.35 per share for the prior December quarter.

Net income for the current quarter was negatively impacted on a pre-tax basis by $5.9 million in restructuring and severance charges and a $2.2 million impairment charge to adjust the carrying value of the Company's assets resulting from the consolidation of production into larger, more efficient facilities.

Net sales from continuing operations for the current December quarter were $183.4 million, inclusive of net sales as a result of the Dillon acquisition in January 2007, compared to net sales of $156.9 million for the prior year December quarter.

"Unifi continues to see improvement in the operating results of its underlying business since the prior year December quarter," said Ron Smith, Chief Financial Officer for Unifi. "The continuing improvement in our operating results reflects the positive impact of our strategies to consolidate the U.S. market and to reposition the Company in the commodity partially oriented yarn market.

Volume in the current quarter stayed stronger than anticipated, despite retail performance and pressure from significant unexpected increases in raw material prices. These raw material increases were related to temporary issues within the global supply chain, and we expect prices to remain stable throughout the March quarter."

Must ReadView All

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ashok Desai
Bombay Textile Research Association

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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


Leave your Comments

June 2018

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

news category

Related Categories:

Advanced Search