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 30th Sep 2016

China aims 6-7% annual output growth in textile industry

The Chinese government has set a target to achieve average annual...

Apparel/Garments | On 30th Sep 2016

Cambodian workers to get $153 minimum wage from Jan

Garment workers in Cambodia would get a minimum wage of $153 per...

Textiles | On 30th Sep 2016

South Indian mills seek cotton storage facility in Colombo

South Indian textile mills, primarily those in Tamil Nadu are looking ...

Interviews View All

Veronique Lee
Modavanti

Binoy Ravjani
Hero's Fashion

Frank Gossmann
Rotorcraft AG

Steve Cole
Xerium Technologies

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
September 2016

September 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search