Unifi Inc: Falls on Q2 revenue miss, lower profit
29/01/2020 18:35
** Textile products maker UFI.N down 24.4% at $20.66 after
Q2 rev miss, lower profit
** Q2 rev $169.5 mln vs est $174.6 mln; EPS 2 cents/shr vs 6
cents/shr a year ago
** Sales impacted by weakness in its largest segment
-polyester, decline in avg selling prices and soft demand across
nylon markets
** International operations have faced significant pricing
pressures in fiscal 2020, and global competition remains
aggressive - COO Tom Caudle
** 2020 net sales forecast between $700 mln and $715 mln,
below analysts' avg estimate of $735.9 mln
** Stock fell ~2% in last 12 months
(Reporting by Balakumaran Vinayagam)
((balakumaran.vinayagam@thomsonreuters.com))