Unifi Announces First-Quarter 2018 Results

Unifi releases first-quarter fiscal 2018 results in a recent conference call with investors. 

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GREENSBORO, S.C.-Unifi releases first-quarter fiscal 2018 results in a recent conference call with investors.

The results cite a net sales increase of $4.2 million, from $160 million in first-quarter 2017 to $164.2 million this year. Meanwhile, Unifi says it notes a slight dip in gross margin to 14.2 percent from 14.7 percent. The company reports revenues from “premium value-added” (PVA) products up by 5.5 percent from first-quarter 2017 and attributes these products to more than 40 percent of consolidated net sales.

“We are pleased with the first quarter results, as we grew domestic and international sales despite continued market pressures,” says Kevin Hall, CEO of Unifi. “Our PVA brands, like REPREVE, continue to take hold within the marketplace and exhibit our strong and growing partnerships with global brands and retailers.”

The company’s global expansion during 2017 includes new manufacturing operations in both Asia and Central America.

Hall adds that the company remains “focused on recycling and innovation to fuel our growth.”

Unifi says it projects revenue growth in the low single-digit percentage range for 2018, operating income in the mid-single digit range, and capital expenditures of roughly $35 million. 

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