Unifi fourth quarter shows growth after covid-19 hit
Fourth quarter and fiscal year results from Unifi, maker of recycled and synthetic yarns, show the group was impacted by shutdowns related to covid-19, but that sales have been improving since April.
Net sales in the fourth quarter of $86.1 million decreased year-over-year from $179.5 million in fiscal 2019, with revenues from Repreve Fiber products representing 28% of consolidated net sales. The operating loss was $20.9 million, compared with an operating income of $5.3 million during the same period in fiscal 2019, due to lower sales and lower fixed cost absorption.