Unifi Inc., a Greensboro, N.C.-based manufacturer of polyester and nylon yarns, saw net income more than triple to $8.9 million, or 46 cents a share, from $2.3 million, or 11 cents a share, for the first quarter ended Sept. 29.
“Improving year-over-year net income by $6.6 million during a quarter in which we experienced a decline in net sales demonstrates the results of our focus on driving financial improvement to our core business through lean manufacturing initiatives, enriching our product mix and deriving value from sustainability-based initiatives,” said Bill Jasper, chairman and chief executive officer of Unifi. “The positive operating results…provide us with a strong start to our 2014 fiscal year and have enabled us to fund the company’s strategic growth opportunities and continue our share repurchases.”
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