GREENSBORO, N.C. — Profits at Unifi Inc., , in the second quarter ended Dec. 24 fell 14 percent to $24.1 million, or 36 cents a share, from $28.1 million, or 40 cents, a year ago. Sales edged up 3.7 percent to $401.4 million from $387.3 million.
“The company continued to see the weakness at the retail level translate into reduced unit demand for our polyester and spun yarn products in comparison to year-ago levels,” Unifi said.
It added that unit shipments were flat for nylon and covered products, while the company posted strong unit gains in the polyester operation in Europe.
“In most areas we continue to experience higher year-to-year costs as a result of price increases on raw materials, packaging and shipping supplies,” Unifi said.
In the six months, profits dropped 39.2 percent to $30.9 million, or 46 cents, after a $23.8 million restructuring charge involving the closing of certain manufacturing facilities.
In the latest half, income from operations before the 22-cent-a-share charge was 68 cents. In the year-ago period, Unifi earned $50.8 million, or 72 cents.