Unifi, Inc., reported net income of $10.2 million, or 17 cents per share, for the company’s fiscal first quarter compared to a net income of $2.5 million, or 4 cents per share, for the prior year quarter. Net sales for the quarter increased $31 million or 22.0% to $174 million.
“The increase was a company-wide effort as our operations in the US, Brazil, Columbia, China and Central America all recorded year-over-year net sales increases,” said Ronald Smith, UFI VP and CFO.
The company is also reporting net income of $10.2 million or 17 cents per share for the quarter, compared to net income of $2.5 million, or 4 cents per share for the prior year quarter. Attributing to the improved quarter-over-quarter performance was a 170 basis point increase in domestic gross margins. Smith continued by saying, “Business conditions in the September quarter were generally favorable across our largest end use segments, and we saw continued strength in overall volume.”
