Unifi Inc

Unifi, Inc., together with its subsidiaries, engages in the manufacture and sale of recycled and synthetic products in North America, Central America, South America, Asia, and Europe. It offers polyester products, including partially oriented yarn, textured, solution and package dyed, twisted, beamed, and draw wound yarns in virgin or recycled varieties; and nylon products comprise virgin or recycled textured, solution dyed, and spandex covered yarns. The company also provides recycled solutions made from pre-consumer and post-consumer waste, such as plastic bottle flakes, polyester polymer beads, and staple fiber. It offers recycled and synthetic products primarily to yarn manufacturers, knitters, and weavers that produces yarn and fabric for the apparel, hosiery, automotive, home furnishings, industrial, medical, and other end-use markets. The company sells its products through sales force and independent sales agents under the REPREVE brand. Unifi, Inc. was incorporated in 1969 and is headquartered in Greensboro, North Carolina.

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Unifi Posts Narrower Loss as Cost Cuts Lift Margins

Unifi Inc. reported a fiscal fourth-quarter net loss of $1.2 million, or 6 cents per share, compared with net income of $15.5 million, or 82 cents per share, a year earlier, which included a $35.8 million gain on a facility sale. Net sales rose 4.1 percent to $144.2 million, with Repreve Fiber products contributing $40.2 million, or 28 percent of net sales, while gross profit swung to $14.3 million from a $1.1 million loss. Selling, general and administrative expenses fell 1 percent to $11.8 million, driven by cost reduction efforts. The company also announced an agreement to sell non-strategic real estate in Yadkin County, North Carolina, for $60 million to data center operator WhiteFiber, with the transaction expected to close in the fourth quarter.

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