Operating income for the fourth fiscal quarter ended June 26, 2016 at US based recycled yarn producer rose by $2.0 million compared to the prior fiscal's fourth quarter.
However, net income in the reporting quarter declined $5.4 million from a fiscal ago period, primarily due to lower earnings from Parkdale America, and a higher effective rate.Operating income for the fourth fiscal quarter ended June 26, 2016 at US based recycled yarn producer rose by $2.0 million compared to the prior fiscal's fourth quarter. However, net income in the reporting quarter declined $5.4 million from a fiscal ago period, primarily due to lower earnings from Parkdale America, and a higher effective rate.#
But again, the synthetic recycled yarn supplier's gross margin climbed to 16.8 per cent in the three months ended June 26, 2016 period vis-à-vis 14.5 per cent in the earlier fiscal's same quarter.
Net sales stood at $163.9 million in the quarter under review as against net sales of $175.0 million for the fourth quarter of fiscal 2015-16.
According to Unifi, net sales were unfavourably impacted primarily by devaluation of the Brazilian Real and lower selling prices due to lower raw material prices.
Adjusted EBITDA totaled $21.1 million for the fourth quarter of fiscal 2016-17, compared to $19.2 million for the fourth quarter of pervious fiscal. (AR)
Fibre2fashion News Desk - India
marketing@alchempro.com
