Unifi Inc. (NYSE: UFI) Director Kenneth G. Langone last Friday bought 95,000 shares of UFI common stock at $11.88 per share. Langone made a total investment of $1.13 million.
UFI shares have opened marginally lower in trading today. At last check, the stock was trading 0.65% lower at $13.74. UFI shares have gained nearly 81%, year-to-date.
Based in Greensboro, North Carolina, Unifi is engaged in the sale of fibers made from polyester and nylon filament to other yarn manufacturers, knitters and weavers that produce fabric for the apparel, hosiery, sock, home furnishing, automotive upholstery, industrial and other markets.
UFI reported its most recent quarterly results (Q4) back in July. For the fourth quarter ended June 24, 2012, the company reported net income of $11.3 million, or $0.56 per share, compared to net income of $13.5 million, or $0.67 per share reported for the same period in the previous year. Net sales for the fourth quarter were $188 million, down 4.2% over the same period in the previous year.
UFI’s adjusted earnings before interest, taxes, depreciation and amortization were $14.1 million in the fourth quarter ended June 24, 2012. The company saw strong continued growth in its domestic, premier value-added yarn portfolio.
Net sales for fiscal year 2012 were $705 million, down 1.1% over fiscal 2011. The company’s net income for fiscal 2012 was $11.5 million, or $0.57 per share, compared to $25.1 million, or $1.25 per share reported for fiscal 2011.
Bill Jasper, Chairman and CEO of Unifi, said that UFI continued to see recovery in volume across all of its operating segments through the second half of fiscal 2012, and margins improved due to the strength of the company’s premier value-added products and polyester raw material cost subsiding from their historically high levels.
Unifi will release its financial results for the first quarter ended September 23, 2012 on Thursday, October 25, 2012.
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