Unifi Q2 FY2023 net loss $1.00/share; sales down 32.4% on inventory destocking

UNIFI INC

2023-Q2 EPS reported -$1.44 revenue$315,731,000

Net sales $136.2M, down 32.4% YoY; REPREVE revenue fell to $42.9M (31% of sales) from $81.5M (40%).
Gross loss of $8.0M vs gross profit of $16.9M YoY; operating loss $19.8M vs income $4.6M.
Net loss $18.0M ($1.00 diluted EPS); adjusted net loss $21.8M; adjusted EBITDA -$13.0M.
Credit facility amended to $230M, maturity extended to Oct 2027; net debt stable at $79.6M.
Cash from operations $7.3M for H1 FY2023 vs -$4.0M prior year, aided by working capital controls.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNIFI INC reported the second fiscal quarter ended January 1, 2023 results: revenue $136.2 million, net income Net loss was $18.0 million, or ($1.00) per share, EPS ($1.00) per share.

Period: the second fiscal quarter ended January 1, 2023
Revenue: $136.2 million
Net income: Net loss was $18.0 million, or ($1.00) per share
EPS: ($1.00) per share
Result: reported results

Exact text from the filing

Net sales were $136.2 million, a decrease of 32.4% from the second quarter of fiscal 2022, primarily attributable to temporary demand disruption in the Americas and Asia Segments caused by near-term inventory destocking measures taken by apparel brands and retailers.

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Source: SEC EDGAR

accession 0000950170-23-001612

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