Continued efficiency initiatives in Americas
better position Company for long-term revenue and profit growth
Unifi, Inc. (NYSE: UFI) (together with its consolidated
subsidiaries, “UNIFI”), leading innovator in recycled and synthetic
yarn, today released operating results for the second fiscal
quarter ended December 29, 2024.
Second Quarter Fiscal 2025
Overview
- Net sales were $138.9 million, an increase of 1.4% from the
second quarter of fiscal 2024, primarily driven by higher sales
volumes.
- Revenues from REPREVE Fiber products were $43.3 million and
represented 31% of net sales, compared to $45.7 million or 33% of
net sales for the second quarter of fiscal 2024.
- Gross profit was $0.5 million and gross margin was 0.4%,
compared to gross profit of $1.6 million and 1.2% for the second
quarter of fiscal 2024.
- Net loss was $11.4 million, or $0.62 per share, compared to a
net loss of $19.8 million, or $1.10 per share, for the second
quarter of fiscal 2024. Adjusted Net Loss was $15.7 million, which
excludes a $4.3 million gain on a warehouse sale, compared to
Adjusted Net Loss of $14.7 million, which excluded $5.1 million of
restructuring costs.
- Adjusted EBITDA*, which also excludes a $4.3 million gain on a
warehouse sale, was $(5.8) million, compared to $(5.5) million for
the second quarter of fiscal 2024, which excluded $5.1 million of
restructuring costs.
- Subsequent to quarter end, UNIFI announced the transition of
certain manufacturing operations to enhance operating efficiency,
lower fixed costs, improve profitability, and further strengthen
the balance sheet.
Eddie Ingle, Chief Executive Officer of Unifi, Inc., stated,
“While our results for the second quarter came in slightly below
our expectations due to global and localized pressures, we’ve taken
numerous proactive actions to position the business for more
durable and profitable future growth. This is evident by the recent
increase in customer orders and interest we are seeing for some of
our Beyond Apparel initiatives and REPREVE Fiber products. Further,
to help support this expected growth and make UNIFI a stronger
operating company, we are taking steps to optimize our business by
consolidating our U.S. manufacturing footprint, which will make us
a leaner and more profitable organization without having to
sacrifice our ability to service the market. As a result, we
believe we are in a better position to drive long-term shareholder
value.”
Second Quarter Fiscal 2025 Compared to
Second Quarter Fiscal 2024
Net sales increased to $138.9 million from $136.9 million,
primarily due to higher sales volumes, partially offset by a weaker
sales mix for the Asia Segment.
Gross profit decreased to $0.5 million from $1.6 million. Asia
Segment gross profit decreased by $1.9 million, primarily due to a
less favorable sales mix and pricing dynamics in the region.
Americas Segment gross profit was flat, primarily as production and
sales gains were offset by inflationary pressures. Brazil Segment
gross profit improved by $0.6 million, primarily due to pricing and
market share gains.
Operating loss improved to $7.6 million from $17.6 million.
Fiscal 2025 included a gain on a warehouse sale and fiscal 2024
included restructuring costs, representing the primary change in
operating loss. Net loss was $11.4 million compared to $19.8
million. Adjusted Net Loss was $15.7 million, which excluded $4.3
million for a gain on a warehouse sale, compared to Adjusted Net
Loss of $14.7 million for the second quarter of fiscal 2025, which
excluded $5.1 million of restructuring costs. Adjusted EBITDA* was
$(5.8) million compared to $(5.5) million, and each excluded the
same adjustments.
Fiscal 2025 Outlook
The below outlook assumes no meaningful changes in business
activities resulting from the evolving tariff and trade
negotiations.
Third Quarter Fiscal 2025
UNIFI expects the following third quarter fiscal 2025
results:
- Net sales and Adjusted EBITDA** improving sequentially from the
second quarter of fiscal 2025, primarily driven by higher revenues
for the Americas Segment.
- Capital expenditures between $5.0 million and $6.0 million,
increasing sequentially for the transition of production out of one
North Carolina facility.
- Continued volatility in the effective tax rate.
Full Year Fiscal 2025
UNIFI updated its full year outlook and now expects the
following for fiscal 2025:
- Net sales approximately equal to fiscal 2024, with second half
fiscal 2025 revenues improving sequentially from the first half of
fiscal 2025.
- Gross profit, gross margin, and Adjusted EBITDA** expected to
increase from fiscal 2024 to fiscal 2025, while second half fiscal
2025 underlying profit generation will be partially offset by U.S.
manufacturing transition costs.
- Capital expenditures between $14.0 million and $16.0 million,
which includes amounts related to U.S. manufacturing transition
activities.
Ingle concluded, “We are excited about the future, and we are
well-positioned to support our customers’ needs as the demand for
sustainable and innovative solutions continues to grow. As we look
ahead, our focus will continue to remain on optimizing our
business, improving our profitability, and making strategic
investments in innovation that will drive future growth and create
value for all our stakeholders.”
* Adjusted Net Loss and Adjusted EBITDA are non-GAAP financial
measures. The schedules included in this press release reconcile
each non-GAAP financial measure to its most directly comparable
GAAP financial measure.
** Guidance provided is a non-GAAP figure presented on an
adjusted basis. For further details, see the non-GAAP financial
measures information presented in the schedules included in this
press release.
Second Quarter Fiscal 2025 Earnings
Conference Call
UNIFI will provide additional commentary regarding its second
quarter fiscal 2025 results and other developments during its
earnings conference call on February 6, 2025, at 8:00 a.m., Eastern
Time. The call can be accessed via a live audio webcast on UNIFI’s
website at http://investor.unifi.com. Additional supporting
materials and information related to the call will also be
available on UNIFI’s website.
About UNIFI
UNIFI, Inc. (NYSE: UFI) is a global leader in fiber science and
sustainable synthetic textiles. Using proprietary recycling
technology, UNIFI is a pioneer in scaling the transformation of
post-industrial and post-consumer waste into sustainable products.
Through REPREVE, the world’s leading brand of traceable, recycled
fiber and resin, UNIFI is changing the way industries think about
the materials they use – and reuse. A vertically-integrated
manufacturer, the company has direct operations in the United
States, Colombia, El Salvador, and Brazil, and sales offices all
over the world. UNIFI envisions a future where circular and
sustainable solutions are the only choice. For more information
about UNIFI, visit www.unifi.com.
Financial Statements, Business Segment
Information and Reconciliations of Reported Results to Adjusted
Results to Follow
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except per
share amounts)
For the Three Months
Ended
For the Six Months
Ended
December 29, 2024
December 31, 2023
December 29, 2024
December 31, 2023
Net sales
$
138,880
$
136,917
$
286,252
$
275,761
Cost of sales
138,346
135,281
276,260
274,700
Gross profit
534
1,636
9,992
1,061
Selling, general and administrative
expenses
12,921
12,408
24,763
24,017
(Benefit) provision for bad debts
(96
)
1,289
216
1,080
Gain on sale of assets
(4,296
)
—
(4,296
)
—
Restructuring costs
—
5,101
—
5,101
Other operating (income) expense, net
(431
)
481
89
535
Operating loss
(7,564
)
(17,643
)
(10,780
)
(29,672
)
Interest income
(177
)
(697
)
(434
)
(1,278
)
Interest expense
2,398
2,613
4,905
5,098
Equity in loss (earnings) of
unconsolidated affiliates
262
(93
)
251
(293
)
Loss before income taxes
(10,047
)
(19,466
)
(15,502
)
(33,199
)
Provision (benefit) for income taxes
1,345
380
3,522
(83
)
Net loss
$
(11,392
)
$
(19,846
)
$
(19,024
)
$
(33,116
)
Net loss per common share:
Basic
$
(0.62
)
$
(1.10
)
$
(1.04
)
$
(1.83
)
Diluted
$
(0.62
)
$
(1.10
)
$
(1.04
)
$
(1.83
)
Weighted average common shares
outstanding:
Basic
18,288
18,110
18,272
18,097
Diluted
18,288
18,110
18,272
18,097
CONDENSED CONSOLIDATED BALANCE
SHEETS
(Unaudited)
(In thousands)
December 29, 2024
June 30, 2024
ASSETS
Cash and cash equivalents
$
18,669
$
26,805
Receivables, net
68,934
79,165
Inventories
132,910
131,181
Income taxes receivable
1,179
164
Other current assets
9,457
11,618
Total current assets
231,149
248,933
Property, plant and equipment, net
183,344
193,723
Operating lease assets
8,900
8,245
Deferred income taxes
4,437
5,392
Other non-current assets
11,829
12,951
Total assets
$
439,659
$
469,244
LIABILITIES AND SHAREHOLDERS’
EQUITY
Accounts payable
$
35,795
$
43,622
Income taxes payable
921
754
Current operating lease liabilities
2,415
2,251
Current portion of long-term debt
12,025
12,277
Other current liabilities
16,054
17,662
Total current liabilities
67,210
76,566
Long-term debt
122,979
117,793
Non-current operating lease
liabilities
6,597
6,124
Deferred income taxes
1,869
1,869
Other long-term liabilities
3,813
3,507
Total liabilities
202,468
205,859
Commitments and contingencies
Common stock
1,835
1,825
Capital in excess of par value
72,490
70,952
Retained earnings
240,373
259,397
Accumulated other comprehensive loss
(77,507
)
(68,789
)
Total shareholders’ equity
237,191
263,385
Total liabilities and shareholders’
equity
$
439,659
$
469,244
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(Unaudited)
(In thousands)
For the Six Months
Ended
December 29, 2024
December 31, 2023
Cash and cash equivalents at beginning of
period
$
26,805
$
46,960
Operating activities:
Net loss
(19,024
)
(33,116
)
Adjustments to reconcile net loss to net
cash (used) provided by operating activities:
Equity in loss (earnings) of
unconsolidated affiliates
251
(293
)
Depreciation and amortization expense
12,881
13,988
Non-cash compensation expense
1,658
1,387
Gain on sale of assets
(4,296
)
—
Deferred income taxes
628
(1,714
)
Other, net
216
(120
)
Changes in assets and liabilities
(7,318
)
22,385
Net cash (used) provided by operating
activities
(15,004
)
2,517
Investing activities:
Capital expenditures
(4,944
)
(5,982
)
Proceeds from the sale of assets
8,094
488
Net cash provided (used) by investing
activities
3,150
(5,494
)
Financing activities:
Proceeds from long-term debt
101,451
80,600
Payments on long-term debt
(96,547
)
(88,740
)
Other, net
(306
)
(27
)
Net cash provided (used) by financing
activities
4,598
(8,167
)
Effect of exchange rate changes on cash
and cash equivalents
(880
)
163
Net decrease in cash and cash
equivalents
(8,136
)
(10,981
)
Cash and cash equivalents at end of
period
$
18,669
$
35,979
BUSINESS SEGMENT
INFORMATION
(Unaudited)
(In thousands)
Net sales and gross profit (loss) details
for each reportable segment of UNIFI are as follows:
For the Three Months
Ended
For the Six Months
Ended
December 29, 2024
December 31, 2023
December 29, 2024
December 31, 2023
Americas
$
83,095
$
80,549
$
169,378
$
162,122
Brazil
27,482
26,061
61,792
55,970
Asia
28,303
30,307
55,082
57,669
Consolidated net sales
$
138,880
$
136,917
$
286,252
$
275,761
For the Three Months
Ended
For the Six Months
Ended
December 29, 2024
December 31, 2023
December 29, 2024
December 31, 2023
Americas
$
(6,540
)
$
(6,738
)
$
(7,918
)
$
(14,118
)
Brazil
3,786
3,139
11,723
5,306
Asia
3,288
5,235
6,187
9,873
Consolidated gross profit
$
534
$
1,636
$
9,992
$
1,061
RECONCILIATIONS OF REPORTED
RESULTS TO ADJUSTED RESULTS
(Unaudited)
(In thousands)
EBITDA and Adjusted
EBITDA (Non-GAAP Financial Measures)
The reconciliations of the amounts
reported under U.S. generally accepted accounting principles
(“GAAP”) for Net loss to EBITDA and Adjusted EBITDA are set forth
below.
For the Three Months
Ended
For the Six Months
Ended
December 29, 2024
December 31, 2023
December 29, 2024
December 31, 2023
Net loss
$
(11,392
)
$
(19,846
)
$
(19,024
)
$
(33,116
)
Interest expense, net
2,221
1,916
4,471
3,820
Provision (benefit) for income taxes
1,345
380
3,522
(83
)
Depreciation and amortization expense
(1)
6,283
6,922
12,787
13,910
EBITDA
(1,543
)
(10,628
)
1,756
(15,469
)
Gain on sale of assets (2)
(4,296
)
—
(4,296
)
—
Loss on joint venture dissolution (3)
—
2,750
—
2,750
Severance (4)
—
2,351
—
2,351
Adjusted EBITDA
$
(5,839
)
$
(5,527
)
$
(2,540
)
$
(10,368
)
(1)
Within this reconciliation,
depreciation and amortization expense excludes the amortization of
debt issuance costs, which are reflected in interest expense, net.
However, within the accompanying Condensed Consolidated Statements
of Cash Flows, amortization of debt issuance costs is reflected in
depreciation and amortization expense.
(2)
In the second quarter of fiscal
2025, UNIFI recorded a gain of $4,296 related to the sale of a
warehouse located in Yadkinville, North Carolina.
(3)
In the second quarter of fiscal
2024, UNIFI recorded a loss of $2,750 related to the dissolution of
a nylon joint venture.
(4)
In the second quarter of fiscal
2024, UNIFI incurred severance costs in connection with the
Profitability Improvement Plan in the U.S.
Adjusted Net Loss and Adjusted EPS
(Non-GAAP Financial Measures)
The tables below set forth reconciliations of (i) Loss before
income taxes (“Pre-tax Loss”), (ii) Provision (benefit) for income
taxes (“Tax Impact”), (iii) Net loss (“Net Loss”) to Adjusted Net
Loss, and (iv) Diluted Earnings Per Share (“Diluted EPS”) to
Adjusted EPS. Rounding may impact certain of the below
calculations.
For the Three Months Ended
December 29, 2024
For the Three Months Ended
December 31, 2023
Pre-tax Loss
Tax Impact
Net Loss
Diluted EPS
Pre-tax Loss
Tax Impact
Net Loss
Diluted EPS
GAAP results
$
(10,047
)
$
(1,345
)
$
(11,392
)
$
(0.62
)
$
(19,466
)
$
(380
)
$
(19,846
)
$
(1.10
)
Gain on sale of assets (1)
(4,296
)
—
(4,296
)
(0.24
)
—
—
—
—
Loss on joint venture dissolution (2)
—
—
—
—
2,750
—
2,750
0.15
Severance (3)
—
—
—
—
2,351
—
2,351
0.14
Adjusted results
$
(14,343
)
$
(1,345
)
$
(15,688
)
$
(0.86
)
$
(14,365
)
$
(380
)
$
(14,745
)
$
(0.81
)
Weighted average common shares
outstanding
18,288
18,110
For the Six Months Ended
December 29, 2024
For the Six Months Ended
December 31, 2023
Pre-tax Loss
Tax Impact
Net Loss
Diluted EPS
Pre-tax Loss
Tax Impact
Net Loss
Diluted EPS
GAAP results
$
(15,502
)
$
(3,522
)
$
(19,024
)
$
(1.04
)
$
(33,199
)
$
83
$
(33,116
)
$
(1.83
)
Gain on sale of assets (1)
(4,296
)
—
(4,296
)
(0.24
)
—
—
—
—
Loss on joint venture dissolution (2)
—
—
—
—
2,750
—
2,750
0.15
Severance (3)
—
—
—
—
2,351
—
2,351
0.13
Adjusted results
$
(19,798
)
$
(3,522
)
$
(23,320
)
$
(1.28
)
$
(28,098
)
$
83
$
(28,015
)
$
(1.55
)
Weighted average common shares
outstanding
18,272
18,097
(1)
In the second quarter of fiscal
2025, UNIFI recorded a gain of $4,296 related to the sale of a
warehouse located in Yadkinville, North Carolina. The associated
tax impact was estimated to be $0 due to a valuation allowance
against net operating losses and capital losses in the U.S.
(2)
In the second quarter of fiscal
2024, UNIFI recorded a loss of $2,750 related to the dissolution of
a nylon joint venture.
(3)
In the second quarter of fiscal
2024, UNIFI incurred severance costs in connection with the
Profitability Improvement Plan in the U.S.
Net Debt (Non-GAAP Financial
Measure)
Reconciliations of Net Debt are as follows:
December 29, 2024
June 30, 2024
Long-term debt
$
122,979
$
117,793
Current portion of long-term debt
12,025
12,277
Unamortized debt issuance costs
199
229
Debt principal
135,203
130,299
Less: cash and cash equivalents
18,669
26,805
Net Debt
$
116,534
$
103,494
Cash and cash equivalents
At December 29, 2024 and June 30, 2024, UNIFI’s foreign
operations held nearly all consolidated cash and cash
equivalents.
REPREVE Fiber
REPREVE Fiber represents UNIFI’s collection of fiber products on
its recycled platform, with or without added technologies.
Non-GAAP Financial
Measures
Certain non-GAAP financial measures included herein are designed
to complement the financial information presented in accordance
with GAAP. These non-GAAP financial measures include Earnings
Before Interest, Taxes, Depreciation and Amortization (“EBITDA”),
Adjusted EBITDA, Adjusted Net (Loss) Income, Adjusted EPS, and Net
Debt (together, the “non-GAAP financial measures”).
- EBITDA represents Net (loss) income before net interest
expense, income tax expense, and depreciation and amortization
expense.
- Adjusted EBITDA represents EBITDA adjusted to exclude, from
time to time, certain adjustments necessary to understand and
compare the underlying results of UNIFI.
- Adjusted Net (Loss) Income represents Net (loss) income
calculated under GAAP adjusted to exclude certain amounts.
Management believes the excluded amounts do not reflect the ongoing
operations and performance of UNIFI and/or exclusion may be
necessary to understand and compare the underlying results of
UNIFI.
- Adjusted EPS represents Adjusted Net (Loss) Income divided by
UNIFI’s weighted average common shares outstanding.
- Net Debt represents debt principal less cash and cash
equivalents.
The non-GAAP financial measures are not determined in accordance
with GAAP and should not be considered a substitute for performance
measures determined in accordance with GAAP. The calculations of
the non-GAAP financial measures are subjective, based on
management’s belief as to which items should be included or
excluded in order to provide the most reasonable and comparable
view of the underlying operating performance of the business. We
may, from time to time, modify the amounts used to determine our
non-GAAP financial measures.
We believe that these non-GAAP financial measures better reflect
UNIFI’s underlying operations and performance and that their use,
as operating performance measures, provides investors and analysts
with a measure of operating results unaffected by differences in
capital structures, capital investment cycles, and ages of related
assets, among otherwise comparable companies.
This press release also includes certain forward-looking
information that is not presented in accordance with GAAP.
Management believes that a quantitative reconciliation of such
forward-looking information to the most directly comparable
financial measure calculated and presented in accordance with GAAP
cannot be made available without unreasonable efforts because a
reconciliation of these non-GAAP financial measures would require
UNIFI to predict the timing and likelihood of potential future
events such as restructurings, M&A activity, contract
modifications, and other infrequent or unusual gains and losses.
Neither the timing nor likelihood of these events, nor their
probable significance, can be quantified with a reasonable degree
of accuracy. Accordingly, a reconciliation of such forward-looking
information to the most directly comparable GAAP financial measure
is not provided.
Management uses Adjusted EBITDA (i) as a measurement of
operating performance because it assists us in comparing our
operating performance on a consistent basis, as it removes the
impact of (a) items directly related to our asset base (primarily
depreciation and amortization) and (b) items that we would not
expect to occur as a part of our normal business on a regular
basis; (ii) for planning purposes, including the preparation of our
annual operating budget; (iii) as a valuation measure for
evaluating our operating performance and our capacity to incur and
service debt, fund capital expenditures, and expand our business;
and (iv) as one measure in determining the value of other
acquisitions and dispositions. Adjusted EBITDA is a key performance
metric utilized in the determination of variable compensation. We
also believe Adjusted EBITDA is an appropriate supplemental measure
of debt service capacity, because it serves as a high-level proxy
for cash generated from operations.
Management uses Adjusted Net (Loss) Income and Adjusted EPS (i)
as measurements of net operating performance because they assist us
in comparing such performance on a consistent basis, as they remove
the impact of (a) items that we would not expect to occur as a part
of our normal business on a regular basis and (b) components of the
provision for income taxes that we would not expect to occur as a
part of our underlying taxable operations; (ii) for planning
purposes, including the preparation of our annual operating budget;
and (iii) as measures in determining the value of other
acquisitions and dispositions.
Management uses Net Debt as a liquidity and leverage metric to
determine how much debt would remain if all cash and cash
equivalents were used to pay down debt principal.
In evaluating non-GAAP financial measures, investors should be
aware that, in the future, we may incur expenses similar to the
adjustments included herein. Our presentation of non-GAAP financial
measures should not be construed as indicating that our future
results will be unaffected by unusual or non-recurring items. Each
of our non-GAAP financial measures has limitations as an analytical
tool, and investors should not consider it in isolation or as a
substitute for analysis of our results or liquidity measures as
reported under GAAP. Some of these limitations are (i) it is not
adjusted for all non-cash income or expense items that are
reflected in our statements of cash flows; (ii) it does not reflect
the impact of earnings or charges resulting from matters we
consider not indicative of our ongoing operations; (iii) it does
not reflect changes in, or cash requirements for, our working
capital needs; (iv) it does not reflect the cash requirements
necessary to make payments on our debt; (v) it does not reflect our
future requirements for capital expenditures or contractual
commitments; (vi) it does not reflect limitations on or costs
related to transferring earnings from our subsidiaries to us; and
(vii) other companies in our industry may calculate this measure
differently than we do, limiting its usefulness as a comparative
measure.
Because of these limitations, these non-GAAP financial measures
should not be considered as a measure of discretionary cash
available to us to invest in the growth of our business or as a
measure of cash that will be available to us to meet our
obligations, including those under our outstanding debt
obligations. Investors should compensate for these limitations by
relying primarily on our GAAP results and using these measures only
as supplemental information.
Cautionary Statement on Forward-Looking
Statements
Certain statements included herein contain “forward-looking
statements” within the meaning of federal securities laws about the
financial condition and results of operations of UNIFI that are
based on management’s beliefs, assumptions and expectations about
our future economic performance, considering the information
currently available to management. An example of such
forward-looking statements include, among others, guidance
pertaining to our financial outlook. The words “believe,” “may,”
“could,” “will,” “should,” “would,” “anticipate,” “plan,”
“estimate,” “project,” “expect,” “intend,” “seek,” “strive” and
words of similar import, or the negative of such words, identify or
signal the presence of forward-looking statements. These statements
are not statements of historical fact, and they involve risks and
uncertainties that may cause our actual results, performance or
financial condition to differ materially from the expectations of
future results, performance or financial condition that we express
or imply in any forward-looking statement.
Factors that could contribute to such differences include, but
are not limited to: the competitive nature of the textile industry
and the impact of global competition; changes in the trade
regulatory environment and governmental policies and legislation;
the availability, sourcing, and pricing of raw materials; general
domestic and international economic and industry conditions in
markets where UNIFI competes, including economic and political
factors over which UNIFI has no control; changes in consumer
spending, customer preferences, fashion trends, and end-uses for
UNIFI's products; the financial condition of UNIFI’s customers; the
loss of a significant customer or brand partner; natural disasters,
industrial accidents, power or water shortages, extreme weather
conditions, and other disruptions at one of our facilities; the
disruption of operations, global demand, or financial performance
as a result of catastrophic or extraordinary events, including, but
not limited to, epidemics or pandemics; the success of UNIFI’s
strategic business initiatives; the volatility of financial and
credit markets, including the impacts of counterparty risk (e.g.,
deposit concentration and recent depositor sentiment and activity);
the ability to service indebtedness and fund capital expenditures
and strategic business initiatives; the availability of and access
to credit on reasonable terms; changes in foreign currency
exchange, interest, and inflation rates; fluctuations in production
costs; the ability to protect intellectual property; the strength
and reputation of our brands; employee relations; the ability to
attract, retain, and motivate key employees; the impact of climate
change or environmental, health, and safety regulations; and the
impact of tax laws, the judicial or administrative interpretations
of tax laws, and/or changes in such laws or interpretations.
All such factors are difficult to predict, contain uncertainties
that may materially affect actual results and may be beyond our
control. New factors emerge from time to time, and it is not
possible for management to predict all such factors or to assess
the impact of each such factor on UNIFI. Any forward-looking
statement speaks only as of the date on which such statement is
made, and we do not undertake any obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which such statement is made, except as may be required
by federal securities laws. The above and other risks and
uncertainties are described in UNIFI’s most recent Annual Report on
Form 10-K, and additional risks or uncertainties may be described
from time to time in other reports filed by UNIFI with the
Securities and Exchange Commission pursuant to the Securities
Exchange Act of 1934, as amended.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250205235270/en/
Josh Carroll or Blaine McNulty Alpha IR Group 312-445-2870
UFI@alpha-ir.com
Unifi (NYSE:UFI)
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