Unifi soars after posting smaller Q4 loss

Unifi

22/08/2024 16:18

** Shares of recycled and synthetic textile manufacturer
Unifi  UFI.N  rise 14.7% to $6.71, hitting a seven-month high in
day trading
    ** Company posts smaller Q4 adj loss of 22 cents​​ per share
vs a loss of 39 cents/shr a year ago
    ** Quarterly revenue rose ~4% YoY to $157.45 mln, primarily
driven by higher sales volumes
    ** Revenues from REPREVE Fiber products were $53.6 mln,
representing 34% of net sales
    ** UFI already begun to reinvest into "ThermaLoop™
Insulation solution and the broadening of our Textile Takeback
program across filament and staple fiber," says CEO Eddie Ingle
    ** Including session's moves, UFI flat 0.6% YTD

 (Reporting by Nikhil Sharma in Bengaluru)
 ((Nikhil.Sharma@thomsonreuters.com;))