Textured polyester and nylon yarn producer Unifi Inc has narrowed its first quarter net loss, despite certain restructuring and severance related charges and flat sales.

Net loss for the quarter to 23 September was $9.2m or $0.15 per share, versus a net loss of $10.1m or $0.19 per share for the same period last year.

Results were impacted by $2.6m in restructuring charges and a $4.5m charge to adjust the carrying value of the company's ownership interest in one of its equity affiliates.

Net sales for the Greensboro, North Carolina based firm were flat at $170.5m, compared with $169.9m for the prior year quarter.

Ron Smith, chief financial officer said underlying operating results "improved slightly despite the effects of a declining market, further validating our consolidation strategy for the US market.

"Additionally, the closure of our Kinston facility in October will allow us to reposition Unifi in the partially oriented yarn market, thereby competing more effectively."