13 slides from Unifi, Inc. New's earnings presentation, Jan 21, 2016
Slide 1: Preliminary Results For the Second Quarter Ended December 27, 2015
Preliminary Results For the Second Quarter Ended December 27, 2015 Conference Call Slide Presentation Exhibit 99.2
Slide 2: Cautionary Statement
2 Cautionary Statement Certain statements included herein contain forward-looking statements within the meaning of federal securities laws about the financial condition and results of operations of Unifi, Inc. (the “Company”) that are based on management’s beliefs, assumptions and expectations about
Slide 3: Q2 - Income Before Income Taxes
3 Q2 - Income Before Income Taxes (Dollars in Millions) Unifi, Inc. Second Qtr. Conf. Call January 21, 2016 (Unaudited) Note: The above graphic represents management’s analysis of the amounts which drove changes in income before income taxes for the noted comparative periods. (1) – Approximates the
Slide 4: YTD - Income Before Income Taxes
4 YTD - Income Before Income Taxes (Dollars in Millions) Unifi, Inc. Second Qtr. Conf. Call January 21, 2016 (Unaudited) Note: The above graphic represents management’s analysis of the amounts which drove changes in income before income taxes for the noted comparative periods. (1) – Approximates the
Slide 5: Net Sales and Gross Profit Highlights
5 Net Sales and Gross Profit Highlights (1) (Dollars in Thousands) Unifi, Inc. Second Qtr. Conf. Call January 21, 2016 (Unaudited) Quarter over Quarter Year over Year For the Three Months Ended For the Six Months Ended December 27, 2015 vs. December 28, 2014 December 27, 2015 vs. December 28, 2014 V
Slide 6: Equity Affiliates Highlights
6 Equity Affiliates Highlights (Dollars in Thousands) Unifi, Inc. Second Qtr. Conf. Call January 21, 2016 (Unaudited) For the Three Months Ended For the Six Months Ended December 27, 2015 December 28, 2014 December 27, 2015 December 28, 2014 (Loss) Earnings: Parkdale America (1) $(381) $3,090 $1,584
Slide 7: Reconciliations of Net Income to Adjusted EBITDA
7 Reconciliations of Net Income to Adjusted EBITDA (Dollars in Thousands) Unifi, Inc. Second Qtr. Conf. Call January 21, 2016 (Unaudited) For the Three Months Ended For the Six Months Ended December 27, 2015 December 28, 2014 December 27, 2015 December 28, 2014 Net income attributable to Unifi, Inc.
Slide 8: Reconciliations of GAAP Results To Adjusted Results
8 Reconciliations of GAAP Results To Adjusted Results (Dollars in Thousands, Except Per Share Amounts) Unifi, Inc. Second Qtr. Conf. Call January 21, 2016 (Unaudited) For the Three Months Ended December 27, 2015 For the Three Months Ended December 28, 2014 Income Before Income Taxes Net Income Basic
Slide 9: Working Capital Highlights
9 Working Capital Highlights (Dollars in Thousands) Unifi, Inc. Second Qtr. Conf. Call January 21, 2016 (Unaudited) December 27, 2015 September 27, 2015 June 28, 2015 Receivables, net $78,149 $84,960 $83,863 Inventories 108,975 112,778 111,615 Accounts payable (36,455) (42,398) (45,023) Accrued expe
Slide 10: Capital Structure
Capital Structure (Dollars in Thousands) Unifi, Inc. Second Qtr. Conf. Call January 21, 2016 (Unaudited) 10 December 27, 2015 September 27, 2015 June 28, 2015 ABL Revolver $16,200 $28,000 $5,000 ABL Term Loan 95,000 79,875 82,125 Other 25,687 20,350 16,985 Total debt $136,887 $128,225 $104,110 Cash
Slide 11: Non-GAAP Financial Measures
11 Non-GAAP Financial Measures Certain non-GAAP financial measures included herein are designed to complement the financial information presented in accordance with generally accepted accounting principles in the United States of America ("GAAP") because management believes such measures are useful
Slide 12: Non-GAAP Financial Measures - continued
12 Non-GAAP Financial Measures - continued We also believe Adjusted EBITDA is an appropriate supplemental measure of debt service capacity, because cash expenditures on interest are, by definition, available to pay interest, and tax expense is inversely correlated to interest expense because tax exp
Slide 13: Appendix A - Net Sales Highlights
13 Appendix A - Net Sales Highlights (Dollars in Thousands) Unifi, Inc. Second Qtr. Conf. Call January 21, 2016 (Unaudited) For the Three Months Ended For the Six Months Ended December 27, 2015 December 28, 2014 December 27, 2015 December 28, 2014 Net Sales: Polyester $89,814 $90,431 $180,382 $183,4