Business Services Industry
Greensboro, N.C.-Based Yarns Producer Posts Rise in Quarterly Net Income.
Knight Ridder/Tribune Business News, October, 2002
By Fran Daniel, Winston-Salem Journal, N.C. Knight Ridder/Tribune Business News
Oct. 24--Unifi Inc. reported a significant increase in net income for its first quarter yesterday, citing strong performance by its Brazilian operation and income from the company's stake in the earnings of its unconsolidated affiliates,
The producer and processor of textured yarns, based in Greensboro, had net income of $4.3 million, or 8 cents a share, compared with net income of $2.7 million, or 5 cents a share, for the first quarter in 2001. Sales fell to $221.5 million, down from $223 million for the same period a year ago.
The results include a $9.9 million benefit, before taxes, generated by the company's manufacturing alliance with DuPont Co....
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