Unifi announces second quarter results
Unifi Inc, producer and processor of textured yarns, has revealed net sales of $296.3m for the second quarter compared to $317.6m for the same period last year.
The company reported a loss of $3.4m or 6 cents per share compared to net income of $10.2m or 17 cents per share for the prior year December quarter.
Net income per share in the current year quarter was negatively impacted by a 3 cents per share charge taken to restructure operations and exit certain leases stemming from the consolidation of the Unifi Technology Group and a 6 cents per share loss from the company’s European operations resulting from continuing import and currency pressures.
Raven Industries increases net earnings expectations
Substantial improvements in profit margins, due mostly to special buys of products in two divisions, has led Raven Industries Inc to substantially revise upward both operating and net earnings expectations for its fourth quarter.
Operating and net income are expected to rise by approximately 50 per cent while earnings per share for the fourth quarter will climb even higher on approximately 800,000 fewer shares outstanding.
Included in fourth-quarter results will be the previously announced disposition of certain assets in the company’s Sewn Products segment.
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