Despite declines in sales for both the quarter and year, Unifi, Inc. was able to work on the operations side of things to narrow its net loss for both periods. Net sales for the fourth quarter were $183.2 million, a decrease of 8.6% from net sales of $200.4 million last year. Net sales for the full year decreased 6.9% to $738.8 million from $793.8 million last year.
The net loss for the fiscal fourth quarter, including discontinued operations, was $5.4 million or 10 cents per share, an improvement over a net loss of $9.0 million or 17 cents per share for the prior year. Net income for the current quarter was negatively impacted by a pre-tax loss of $2.9 million associated with the early extinguishment of debt. The company also reported a net loss of $14.4 million or 28 cents per share for the 2006 fiscal year, which represents an improvement over a net loss of $41.2 million or 79 cents per share last year.