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Jun 27, 2021
Unifi Q4 2021 Earnings Report
Unifi's Q4 2021 results demonstrated resilience with strong performance across all segments, driven by increased net sales and gross profit.
Key Takeaways
Unifi reported strong Q4 fiscal 2021 results, with net sales increasing by 114% compared to the same period last year, driven by robust sales performance in Asia, strong pricing in Brazil, and recovery in the Polyester segment. Net income was $13.4 million, a significant improvement from the net loss of $20.2 million in the prior year.
Net sales increased by 114% year-over-year to $184.4 million.
REPREVE® Fiber products accounted for 38% of consolidated net sales, up from 28% in Q4 2020.
Net income was $13.4 million, or $0.70 per diluted share, compared to a net loss of $20.2 million, or $1.10 loss per share in Q4 2020.
Adjusted EBITDA was $20.4 million, compared to negative $14.0 million in Q4 2020.
Unifi
Unifi
Unifi Revenue by Geographic Location
Revenue by Geographic Location
Brazil Revenue
CapyFin.comAsia Revenue
CapyFin.com Forward Guidance
The Company expects demand levels and trends across the business to remain healthy during fiscal 2022. For the September 2021 quarter includes the following expectations: Sales volumes to increase, with net sales improving sequentially from the June 2021 quarter by approximately 3% to 5%; Adjusted EBITDA to range from approximately $14.0 million to $16.0 million, reflecting continued underlying momentum, partially offset by current inflationary pressures, especially for recycled raw material inputs; An effective tax rate between 35% and 40%; and Capital expenditures of approximately $10.0 million to $11.0 million.
Positive Outlook
- Sales volumes to increase.
- Net sales improving sequentially from the June 2021 quarter by approximately 3% to 5%.
- Adjusted EBITDA to range from approximately $14.0 million to $16.0 million.
- Reflecting continued underlying momentum.
Challenges Ahead
- Current inflationary pressures, especially for recycled raw material inputs.
- Effective tax rate between 35% and 40%.
- Capital expenditures of approximately $10.0 million to $11.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income