Greensboro, N.C.-based Unifi Inc., posted its second-quarter (Q2) 2008 earnings results, which,
though still in negative territory, continue to show improvement over year-earlier results.
The company reported a net loss, including discontinued operations, of $7.7 million or 13
cents per share for the quarter ended Dec. 23, 2007, compared to a net loss of $18.2 million or 35
cents per share for Q2 2007. Contributing to the negative figure were restructuring, severance and
impairment charges totaling $8.1 million.
Q2 2008 net sales from continuing operations totaled $183.4 million, compared to year-earlier
net sales of $156.9 million.
“The continuing improvement in our operating results reflects the positive impact of our
strategies to consolidate the US market and reposition the company in the commodity partially
oriented yarn market,” said Ron Smith, CFO. “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.”
February 5, 2008