Home / Knowledge / News / Textiles / Unifi's gross margin up 170 basis pts in Q3 FY16
Unifi's gross margin up 170 basis pts in Q3 FY16
21
Apr '16
Courtesy: Unifi
Courtesy: Unifi
Unifi, a US based textured and processed yarns manufacturer, reported a rise of 170 basis points to 14.5 per cent in its gross margin – as a percentage of sales – in the third quarter of fiscal 2016, ended on March 27, as compared to 12.8 per cent in the corresponding quarter of the previous fiscal.

Net sales for the quarter stood at $161.3 million as compared to $172.2 million in the prior year, a fall of 6.32 per cent. The fall was a result of the devaluation of Brazilian Real, lower sales pricing associated with raw material costs and the timing of Easter holidays, according to a press release by Unifi.

The improvement in the gross margin was attributed to the successful strategy by the company of enriching their product mix, growth in their value-added offerings, strong growth in the international segment and favourable raw material pricing.

Gross profit was up 5.98 per cent to $23.4 million in Q3 of FY16 as compared to $22 million in the same period of last fiscal, ended on March 29, 2015.

Net income was $9.7 million or $0.54 per basic share as compared to $10 million or $0.55 per basic share in the prior year quarter. Adjusted net income was $10 million or $0.56 of adjusted EPS as compared to adjusted net Income of $9.9 million or $0.54 of adjusted EPS previously.

Commenting on the results, Bill Jasper, chairman and CEO of Unifi said, “We are pleased with this quarter's results, notably our gross margin, which improved 170 basis points.”

“We were particularly excited to see our international segment benefit from strong market share gains in Brazil and from our growing portfolio in China,” he added. (MCJ)

Fibre2Fashion News Desk

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search