Unifi, Inc. announced that it is raising the company's Adjusted EBITDA guidance for the quarter ended September 27, 2009 to a range of $13 million to $14 million. These results represent a significant improvement over the previous guidance of $9 to $11 million given on its annual earnings call on July 29.
“The revised guidance reflects improving volume trends in the current quarter, both domestically and in Brazil,” said Bill Jasper, chief executive officer and president for Unifi. “Business conditions in our key segments have been better than anticipated, resulting in improved demand levels across the supply chain. The increase in the guidance reflects the incremental benefit of better capacity utilization on our profitability.”
Due to the continuing global economic uncertainty, the company is leaving the annual forecast of Adjusted EBITDA for the 2010 fiscal year unchanged at $40 million to $50 million. However, with the improvements already realized in the quarter and the positive momentum Unifi is seeing, it is anticipated the company's annual results will be in the higher-end of the range.
Unifi is a diversified producer and processor of multi-filament polyester and nylon textured yarns and related raw materials.
