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Slight fall in Q2FY17 sales at recycled yarn supplier Unifi
28
Jan '17
For the three months ended December 25, 2016, net sales at recycled yarn supplier Unifi Inc, fell marginally to $155.2 million as against $156.3 million in the fiscal ago quarter. Foreign currency translation in the reporting quarter drove up net sales by $2.0 million, while strong PVA performance in Asia and Brazil mostly offset weaker sales in the US.

In the second quarter of fiscal 2017, operating income expanded 4 per cent to $9.0 million vis-à-vis $8.6 million in the fiscal ago quarter.

Earnings per share (EPS) slipped 30.55 per cent year on year to $0.25, while adjusted EPS was $0.34 as compared to $0.38 in the prior fiscal’s same period.

During the reporting quarter, Unifi divested its 60 per cent stake in Repreve Renewables, which resulted in a loss of $1.7 million, but reduced consolidated net debt by $4.0 million. (AR)

Fibre2Fashion News Desk – India


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