Unifi revises second quarter forecast
09/12/2006
US-based producer and processor of multi-filament textured yarns Unifi, Inc. has revised forecasts for its financial results for the quarter ended December 31. The company previously forecast $10-12 million EBITDA in its earnings call on October 26, however, it now expects results to be less than 50% of this forecast.
"The drop in volume, primarily in our partially oriented yarn, or POY business, that occurred in the month of September has continued through October and November, despite the reduction in sales price to our customers," said the company’s chief operating officer and CFO Bill Lowe.
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