Unifi Inc revises Q2 guidance

20 Dec '08

4 min read

Adjusted EBITDA represents pre-tax income before interest expense, depreciation and amortization expense and loss or income from discontinued operations, adjusted to exclude restructuring charges, SG&A severance charges, equity in earnings and losses of unconsolidated affiliates, write down of long-lived assets and equity affiliates, non-cash compensation expense, gains and losses on sales of property, plant and equipment, hedging gains and losses, deposit write offs, asset consolidation and optimization expense, and Kinston shutdown costs.

The Company presents Adjusted EBITDA as a supplemental measure of its performance and ability to service debt. The Company also presents Adjusted EBITDA because it believes such measure is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in its industry and in measuring the ability of "high- yield" issuers to meet debt service obligations. It is not practical to provide a reconciliation of the Company's 2009 second fiscal quarter or 2009 fiscal year forecasted Adjusted EBITDA to the most directly comparable GAAP measure, pre-tax income, because certain items cannot be reasonably estimated or predicted at this time.

Unifi Inc. is a diversified producer and processor of multi- filament polyester and nylon textured yarns and related raw materials. The Company adds value to the supply chain and enhances consumer demand for its products through the development and introduction of branded yarns that provide unique performance, comfort and aesthetic advantages. Unifi's yarns and brands are readily found in home furnishings, apparel, legwear and sewing thread, as well as industrial, automotive, military, and medical applications.

Unifi Inc

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