Unifi Sees Net Income, Net Sales Climb in Q1
December 11, 2010,
Net income for the quarter, which ended Sept. 26, was $10.2 million or 17 cents per share, compared to $2.5 million or 4 cents per share for the prior year first quarter ended Sept. 27, 2009.
And Unifi's net sales for the period grew by 22% to $174 million versus $143 million in the year-ago quarter.
"We are pleased to begin our 2011 fiscal year with a profitable quarter, driven by the strong results of our underlying business," said Bill Jasper, president and ceo. "Although uncertainty remains around consumer demand amid rising raw material prices, we are prepared to react quickly and are confident in our ability to recoup raw material cost increases we are experiencing. "