Unifi reduces losses

25/04/2006

Producer and processor of multi-filament polyester and nylon textured yarns and related raw materials Unifi, Inc. has posted operating results for its third quarter ended March 26.

Net income from continuing operations for the quarter saw a net loss of $1.3 million, equivalent to a net loss of $1.6 million for the same period in 2005. Net income for the third quarter, including discontinued operations, saw a net loss of $2.1 million, compared with a net loss of $1.9 million for the same period last year.

Net income from continuing operations for the first nine months of fiscal 2006 recorded a net loss of $9.5 million, which includes a total of $2.3 million in pre-tax impairment charges associated with the company's properties located in Mayodan, N.C., compared with a net loss of $7.3 million in 2005. Net income including discontinued operations, saw a net loss of $9 million, compared with a net loss of $32.2 million for the period in 2005, which includes charges associated with the closure of the company's facility in Ireland.