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Unifi Cuts Loss in Q2

Continuing improvement in Unifi, Inc.’s operating results helped the fiber company cut its net loss in the second quarter, ended Dec. 28, 2007.

ATLANTA—Continuing improvement in Unifi, Inc.’s operating results helped the fiber company cut its net loss in the second quarter, ended Dec. 28, 2007, to $7.7 million, or 13 cents per share, from $18.2 million, or 35 cents per share, a year ago.

Net sales from continuing operations also improved. They rose nearly 17 percent to $183.4 million, including net sales as a result of the Dillon Yarn Corp. acquisition in January 2007, from $156.9 million for the prior second quarter.

Ron Smith, CFO, Unifi, said, “The continuing improvement in our operating results reflects the positive impact of our strategies to consolidate the U.S. market and to reposition the company in the commodity partially oriented yarn market. Volume in the current quarter stayed stronger than anticipated, despite retail performance and pressure from significant unexpected increases in raw material prices.” He added that Unifi expects prices to remain stable throughout the March quarter.