For the three months ended December 25, 2016, net sales at recycled yarn supplier Unifi Inc, fell marginally to $155.2 million as against $156.3 million in the fiscal ago quarter. Foreign currency translation in the reporting quarter drove up net sales by $2.0 million, while strong PVA performance in Asia and Brazil mostly offset weaker sales in the US.
In the second quarter of fiscal 2017, operating income expanded 4 per cent to $9.0 million vis-à-vis $8.6 million in the fiscal ago quarter.For the three months ended December 25, 2016, net sales at recycled yarn supplier Unifi Inc, fell marginally to $155.2 million as against $156.3 million in the fiscal ago quarter. Foreign currency translation in the reporting quarter drove up net sales by $2.0 million, while strong PVA performance in Asia and Brazil mostly offset weaker sales in the US.#
Earnings per share (EPS) slipped 30.55 per cent year on year to $0.25, while adjusted EPS was $0.34 as compared to $0.38 in the prior fiscal’s same period.
During the reporting quarter, Unifi divested its 60 per cent stake in Repreve Renewables, which resulted in a loss of $1.7 million, but reduced consolidated net debt by $4.0 million. (AR)
ALCHEMPro News Desk – India
marketing@alchempro.com
