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U.S. yarn innovator Unifi’s fourth-quarter sales surge 114%

Unifi, a leading US-based recycling and synthetic yarn innovator, saw sales of $ 86 million in the fourth quarter, which ended June 27, 2021, up 114%. It reports that it has reached $ 184.4 million. The period of the previous year. Fourth-quarter net income improved to $ 13.4 million (Q4 2008: loss of $ 20.2 million).

“The Q4 2021 results demonstrate the resilience of our global business model and the value that innovative solutions bring to our global customer base. We meet our customers’ needs while maintaining a dynamic business environment. The team’s efforts have resulted in strong performance in all segments during the period. ” Eddie Ingle, CEO of Unifi, Said in a press release.

Gross profit for the reporting period was $ 27.4 million (loss: $ 9.4 million), while operating profit increased to $ 13.9 million (loss: $ 20.8 million).

Sales of the company’s two main segments, polyester and nylon, increased to $ 87.8 million and $ 47.9 million, respectively. Meanwhile, fourth-quarter sales from Asia increased to $ 53.3 million and sales in Brazil increased to $ 23.4 million.

“The fourth quarter was supported by record sales in Asia and strong pricing by the Brazilian segment, which achieved strong gross margins despite the April 2021 pandemic regulation. Repreve Fiber products continue to gain momentum, benefiting from further demand recovery, and are strong as our team continues to expand our innovative and sustainable product portfolio, “added Ingle.

Unifi said it expects the Asia and Polyester segments to generate modest profitability growth for the upcoming 2022 fiscal year, but does not expect the Brazil segment to continue at the 2009 level. As a result, the company expects sales growth of 10% compared to FY2009, driven by sales growth of Repreve Fiber.

Fiber2Fashion News Desk (JL)

Unifi, a leading US-based recycling and synthetic yarn innovator, saw sales of $ 86 million in the fourth quarter, which ended June 27, 2021, up 114%. It reports that it has reached $ 184.4 million. The period of the previous year. Fourth-quarter net income improved to $ 13.4 million (Q4 2008: loss of $ 20.2 million).



U.S. yarn innovator Unifi’s fourth-quarter sales surge 114%

Source link U.S. yarn innovator Unifi’s fourth-quarter sales surge 114%

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