Unifi, Inc. New · NYSE:UFI
Unifi, Inc. New — Unifi — Q3 FY2014 Earnings Presentation
11 slides from Unifi, Inc. New's earnings presentation, Apr 24, 2014
Slide 1: Third Quarter Ended March 30, 2014 Conference Call Slide Presentation
Unifi, Inc. For the Third Quarter Ended March 30, 2014 Conference Call Slide Presentation Exhibit 99.2
Slide 2: Cautionary Statement
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 o
Slide 3: Net Sales and Gross Profit Highlights
Net Sales and Gross Profit Highlights (Amounts in Thousands, Except Percentages) Quarter over Quarter Year over Year For the Three Months Ended For the Nine Months Ended March 30, 2014 vs. March 24, 2013 March 30, 2014 vs. March 24, 2013 Volume Price Volume Price Net Sales: Polyester 6.5% 1.3% (1.3%
Slide 4: Income Statement - Three Months
Income Statement Highlights (Amounts in Thousands, Except Percentages and Per Share Amounts) For the Three Months Ended March 30, 2014 March 24, 2013 Net sales $176,864 100.0% $168,249 100.0% Gross profit 19,759 11.2% 12,681 7.5% Selling, general and administrative expenses 12,290 6.9% 11,262 6.7% O
Slide 5: Income Statement - Nine Months
Income Statement Highlights (Amounts in Thousands, Except Percentages and Per Share Amounts) For the Nine Months Ended March 30, 2014 March 24, 2013 Net sales $506,150 100.0% $513,220 100.0% Gross profit 58,241 11.5% 47,392 9.2% Selling, general and administrative expenses 33,895 6.7% 33,941 6.6% Op
Slide 6: Equity Affiliates
Equity Affiliates Highlights (Amounts in thousands, Except Percentages) For the Three Months Ended For the Nine Months Ended March 30, 2014 March 24, 2013 March 30, 2014 March 24, 2013 Earnings: Parkdale America (34%) $3,230 $4,294 $13,949 $4,990 Other 355 489 881 1,722 Total $3,585 $4,783 $14,830 $
Slide 7: Reconciliations of Net Income to Adjusted EBITDA
Reconciliations of Net Income to Adjusted EBITDA (Amounts in Thousands) For the Three Months Ended For the Nine Months Ended March 30, 2014 March 24, 2013 March 30, 2014 March 24, 2013 Net income attributable to Unifi, Inc. $4,743 $1,399 $20,056 $6,119 Provision for income taxes 4,476 2,510 14,151 7
Slide 8: Working Capital
Working Capital Highlights (Amounts in Thousands) March 30, 2014 December 29, 2013 June 30, 2013 Receivables, net $97,390 $77,536 $98,392 Inventories 110,916 110,765 110,667 Accounts payable (53,276) (35,740) (45,544) Accrued expenses (1) (16,373) (12,399) (18,383) Adjusted working capital $138,657
Slide 9: Capital Structure
Capital Structure (Amounts in Thousands) March 30, 2014 December 29, 2013 June 30, 2013 ABL Revolver $25,400 $50,400 $52,500 ABL Term Loan 68,000 50,000 42,800 Other 5,111 2,424 2,453 Total Debt $98,511 $102,824 $97,753 Cash 13,159 15,522 8,755 Net Debt $85,352 $87,302 $88,998 Cash $13,159 $15,522 $
Slide 10: Non-GAAP Financial Measures
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 to
Slide 11: Non-GAAP Financial Measures - continued
Non-GAAP Financial Measures - continued In evaluating EBITDA, Adjusted EBITDA including equity affiliates, and Adjusted EBITDA, you should be aware that in the future, we may incur expenses similar to the adjustments included herein. Our presentation of EBITDA, Adjusted EBITDA including equity affil