Unifi jumps as Q3 profit more than doubles

Unifi

01/05/2020 18:10

** Textile products maker Unifi Inc  UFI.N  jumps 12.5% to
one-month high of $11.6
    ** Company's Q3 sales tops estimates, profit jumps to $0.22
per share from $0.08 last year  urn:newsml:reuters.com:*:nL4N29Y3NE
    ** UFI on course for biggest one-day gain since March 25
    ** Company says its 34% interest in cotton and synthetic
yarn maker Parkdale America LLC was sold to majority owner,
Parkdale, for $60.0 million in cash on April 29
    ** Company recorded a $45.2 million impairment charge in Q3
in connection with the sale
    ** Stock down ~54% YTD including session gains 
    

 (Reporting by Susan Mathew in Bengaluru;)
 ((susan.mathew@thomsonreuters.com; +91-80-6287-2704;))