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Article Date: August 2022
Word Count: 182

UNIFI Weighed Down by Raw Material Costs and Labor Shortages

Net income at the synthetic yarn producer plunged 74% in the fiscal fourth quarter ended July 3 to $3,496,000 from $13,419,000 on 18% higher revenues of $217,576,000 up from $184,445,000. The higher revenues were driven by higher prices in the U.S. due to inflation and higher raw material costs. Repreve recycled fiber accounted for 31% of sales, down from 38% last year as pandemic-related lockdowns in Asia remain a headwind. Gross margin was just 8.4%, down from 14.9% prior due to higher ... Log in to view full article.


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