#Recycling / Circular Economy

2022-04-28

Unifi announces third quarter fiscal 2022 results, consistent with expectations

Unifi, Inc. (NYSE: UFI), makers of REPREVE® and one of the world’s leading innovators in recycled and synthetic yarns, today released operating results for the third fiscal quarter ended March 27, 2022.

Third Quarter Fiscal 2022 Overview

• Net sales were $200.8 million, an increase of 12.3% from the third quarter of fiscal 2021.

• Revenues from REPREVE® Fiber products represented 36% of net sales, compared to 34% in the third quarter of fiscal 2021. Similarly, REPREVE® Fiber products comprised 38% of year-to-date net sales, compared to 36% for the same year-to-date period of fiscal 2021.

• Gross profit was $19.1 million compared to $25.6 million for the third quarter of fiscal 2021. Gross margin was 9.5% compared to 14.3% for the third quarter of fiscal 2021.

• Operating income was $5.8 million compared to $8.6 million for the third quarter of fiscal 2021.

• Net income was $2.1 million, or $0.11 diluted earnings per share (“EPS”), compared to net income of $4.8 million, or $0.25 diluted EPS for the third quarter of fiscal 2021. Adjusted EPS1 was $0.14 and excludes the revision of an estimate for recovering non-income taxes in Brazil, compared to $0.25 for the third quarter of fiscal 2021.

• Adjusted EBITDA1 was $12.2 million compared to $15.9 million for the third quarter of fiscal 2021.

• The Company repurchased 50,000 shares of its common stock for $1.0 million during the third quarter of fiscal 2022 under a previously announced program. During fiscal 2022, the Company has repurchased 101,500 shares of its common stock for $2.2 million.

1 Adjusted EPS, Adjusted EBITDA and Net Debt are non-GAAP financial measures. The schedules included in this press release reconcile each non-GAAP financial measure to its most directly comparable GAAP financial measure.

Eddie Ingle, Chief Executive Officer of Unifi, said, “Our third quarter fiscal 2022 results were consistent with our expectations, with REPREVE® Fiber products comprising 36% of consolidated sales. This marks our second consecutive quarter of over $200.0 million in sales. We implemented further selling price adjustments and demonstrated solid progress against the difficult U.S. labor environment, exhibiting a definitive improvement in our Polyester and Nylon Segments’ gross margins since the December 2021 quarter.”

Ingle continued, “We are pleased with the gross margin improvement and we expect to continue making progress in the quarters ahead. Although we are carrying significant momentum into the fourth quarter, the lockdowns in China will adversely impact our overall profitability. Fortunately, we expect our constant pursuit of innovation and sustainability, combined with our regional competitive advantages, to help offset the temporary shortfall in China and continue to drive long-term growth for Unifi.”

“Production is a product”

From technical textiles and AI-driven robotics to the limitations of textile circularity: Professor Dr Thomas Gries looks back on more than two decades of development at ITA Aachen. In the interview, he explains why production technology remains a decisive success factor, discusses international collaborations and innovation ecosystems, and shares his views on the transformation of production landscapes and the challenges facing an increasingly regulated industry.

“We need to move away from the price trap and return to a value-driven mindset.”

With its new Textile Innovation Center, KARL MAYER is sending a strong signal for innovation, collaboration, and the future of textile applications. In this interview, Karl Josef Mayer discusses new opportunities in warp knitting, the processing of staple fibres, recycling, the changing role of machinery manufacturers, and why the textile industry must once again focus more strongly on the value of textiles. by Oliver Schmidt

“Innovation, resilience and international experience remain the great strengths of the Swiss textile machinery industry”

Geopolitical uncertainty, growing competitive pressure from China, new free trade agreements and the shift towards a circular economy are currently reshaping the global textile industry. In this interview, Cornelia Buchwalder discusses the current mood within the Swiss textile machinery sector, the industry’s distinctive innovative strength, new market opportunities in India and Asia, and the technological trends that could shape the upcoming trade fair cycle leading up to ITMA 2027.

New skills for a circular textile economy

Based on the results of a comprehensive analysis, the Erasmus+ project Skills4Circularity is developing three practical training modules covering recycling technologies, eco-design for the circular economy and sustainable manufacturing. The content of the first module, Recycling Technologies, has now been developed and validated together with industry representatives. The module provides participants with knowledge of regulatory requirements, material sorting and the preparation of textile waste for recycling.

HKRITA signs MoU with Jeanologia and Looptworks to establish the Green Machine Circular Textile Ecosystem

The Hong Kong Research Institute of Textiles and Apparel (HKRITA) yesterday officially signed a landmark Memorandum of Understanding (MoU) with two key global partners, Jeanologia and Looptworks, to establish the Green Machine Circular Textile Ecosystem – a first-of-its-kind collaboration to accelerate the large-scale recycling of blended textiles.

JEC Forum Southeast Asia 2026 highlights Taiwan as a strategic hub for the global composites industry

The third edition of JEC Forum organized in Southeast Asia brought together 350+ participants from 22 countries for three active days of high-level Business Meetings, conferences, and networking, emphasizing Southeast Asia’s growing role in the global composites market. Held for the first time in Taipei from 23 to 24 June 2026, following the successful first editions in Bangkok, JEC Forum Southeast Asia 2026 confirmed its position as the region’s leading business platform dedicated to the composites industry.

Textile machinery: Italian technology charts the course for revival

Operating in a scenario characterized by geopolitical instability, slowing industrial investments, and new protectionist pressures. This is the main challenge for the Italian textile machinery industry that emerged during the General Assembly of ACIMIT (Association of Italian Textile Machinery Manufacturers), held today in Milan at the Shareholders’ Hall of Palazzo Edison.

EDANA announces five new board members following 2026 Annual General Meeting

The EDANA Board of Governors is elected or re-elected at the Annual General Meeting by the member companies. The Governors are senior executives (business leaders) from member companies, based in different countries and representing different sectors of the nonwovens industry. The Board has central responsibility for guiding EDANA's overall strategy and approving its policies and priorities. It meets three times a year.