Unifi, Inc. New · NYSE:UFI
Unifi, Inc. New — Unifi — Q4 FY2015 Earnings Presentation
13 slides from Unifi, Inc. New's earnings presentation, Jul 23, 2015
Slide 1: Preliminary Results for the Fourth Quarter and Fiscal Year Ended June 28, 2015
Unifi, Inc. Preliminary Results For the Fourth Quarter and Fiscal Year Ended June 28, 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: Net Sales and Gross Profit Highlights
3 Net Sales and Gross Profit Highlights (1) (Dollars in Thousands) Unifi, Inc. Fourth Qtr. Conf. Call July 23, 2015 (Unaudited) Quarter over Quarter Year over Year For the Three Months Ended For the Fiscal Years Ended June 28, 2015 vs. June 29, 2014 June 28, 2015 vs. June 29, 2014 Volume Price Volum
Slide 4: Income Statement Highlights (Quarter)
4 Income Statement Highlights (Dollars and Shares in Thousands) Unifi, Inc. Fourth Qtr. Conf. Call July 23, 2015 (Unaudited) For the Three Months Ended June 28, 2015 June 29, 2014 Net sales $174,951 100.0% $181,752 100.0% Gross profit 25,319 14.5% 25,021 13.8% Selling, general and administrative exp
Slide 5: Income Statement Highlights (Fiscal Year)
5 Income Statement Highlights (Dollars and Shares in Thousands) Unifi, Inc. Fourth Qtr. Conf. Call July 23, 2015 (Unaudited) For the Fiscal Years Ended June 28, 2015 June 29, 2014 Net sales $687,121 100.0% $687,902 100.0% Gross profit 90,705 13.2% 83,262 12.1% Selling, general and administrative exp
Slide 6: Equity Affiliates Highlights
nbsp; 6 Equity Affiliates Highlights (Dollars in Thousands) Unifi, Inc. Fourth Qtr. Conf. Call July 23, 2015 (Unaudited) For the Three Months Ended For the Fiscal Years Ended June 28, 2015 June 29, 2014 June 28, 2015 June 29, 2014 Earnings: Parkdale America $5,976 $3,897 $17,403 $17,846 Other 1,038
Slide 7: Reconciliations of Net Income to Adjusted EBITDA
7 Reconciliations of Net Income to Adjusted EBITDA (Dollars in Thousands) Unifi, Inc. Fourth Qtr. Conf. Call July 23, 2015 (Unaudited) For the Three Months Ended For the Fiscal Years Ended June 28, 2015 June 29, 2014 June 28, 2015 June 29, 2014 Net income attributable to Unifi, Inc. $15,640 $8,767 $
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. Fourth Qtr. Conf. Call July 23, 2015 (Unaudited) For the Three Months Ended June 28, 2015 For the Three Months Ended June 29, 2014 Income Before Income Taxes Net Income Basic EPS Income
Slide 9: Working Capital Highlights
9 Working Capital Highlights (Dollars in Thousands) Unifi, Inc. Fourth Qtr. Conf. Call July 23, 2015 (Unaudited) June 28, 2015 March 29, 2015 June 29, 2014 Receivables, net $83,863 $88,492 $93,925 Inventories 111,615 105,550 113,370 Accounts payable (45,023) (44,007) (51,364) Accrued expenses (1) (1
Slide 10: Capital Structure
10 Capital Structure (Dollars in Thousands) Unifi, Inc. Fourth Qtr. Conf. Call July 23, 2015 (Unaudited) June 28, 2015 March 29, 2015 June 29, 2014 ABL Revolver $5,000 $17,100 $26,000 ABL Term Loan 82,125 84,375 68,000 Other 16,985 10,792 5,488 Total debt $104,110 $112,267 $99,488 Cash 10,013 14,752
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. Fourth Qtr. Conf. Call July 23, 2015 (Unaudited) For the Three Months Ended For the Fiscal Years Ended June 28, 2015 June 29, 2014 June 28, 2015 June 29, 2014 Net Sales: Polyester $95,113 $102,239 $377,281 $389,172 Nylon 43,893