Although Unifi Inc., the recycled and synthetic yarn maker, delivered a net loss for its fiscal fourth quarter, the company posted higher sales and gross profit while reducing expenses.
The net loss was $1.2 million, or 6 cents per share, which compares to a net income of $15.5 million, or 82 cents per share, in the same period last year, which the company said included a $35.8 million gain on the sale of a manufacturing facility, and was partially offset by $10.6 million in “transition costs.” More from WWD Net sales rose 4.1 percent in the quarter to $144.2 million, with revenues from its Repreve Fiber products line coming in at $40.2 million, which represents 28 percent of net sales
Gross profit came in at $14.3 million, which compares to a gross loss of $1.1 million for the same period last year. Eddie Ingle, chief executive officer of Unifi Inc., said the company closed fiscal 2026 “with clear momentum, highlighted by meaningful improvement in profitability and cash generation.” “These results reflect disciplined execution of our cost reduction, operational optimization, and portfolio management initiatives, each of which has driven [down] our revenue break-even point,” the CEO said. “As we enter fiscal 2027, Unifi is operating from a healthier financial position, with a more focused cost structure and a balance sheet that we expect to further strengthen through the planned sale of non-strategic real estate assets.” In other line items, selling, general and administrative (SG&A) expenses came in at $11.8 million, which is a decrease of 1 percent from the fourth quarter of fiscal 2025. The company said the drop was “primarily driven by cost reduction efforts.” Unifi also said in a statement announcing results that following the fourth fiscal quarter, it entered into an agreement “to sell certain non-strategic real estate assets.” Earlier this week, the company said those assets were in Yadkin County, N.C., and were sold for $60 million to reduce debt.
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