Unifi, Inc. New · NYSE:UFI
Unifi, Inc. New — Unifi — Q4 FY2014 Earnings Presentation
11 slides from Unifi, Inc. New's earnings presentation, Jul 24, 2014
Slide 1: Preliminary Results for the Fourth Quarter and Fiscal Year Ended June 29, 2014
Unifi, Inc. Preliminary Results For the Fourth Quarter and Fiscal Year Ended June 29, 2014 Conference Call Slide Presentation Exhibit 99.2
Slide 2: Forward-Looking Statements
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 our future economic pe
Slide 3: Net Sales and Gross Profit Highlights
3 Net Sales and Gross Profit Highlights (Amounts in Thousands, Except Percentages) Unifi, Inc. Fourth Qtr. Conf. Call July 24, 2014 (Unaudited) Quarter over QuarterYear over Year For the Three Months Ended For the Fiscal Years Ended June 29, 2014 vs. June 30, 2013June 29, 2014 vs. June 30, 2013 Volu
Slide 4: Income Statement - Fourth Quarter
4 Income Statement Highlights (Amounts in Thousands, Except Percentages and Per Share Amounts) Unifi, Inc. Fourth Qtr. Conf. Call July 24, 2014 (Unaudited) For the Three Months Ended (3) June 29, 2014June 30, 2013 Net sales$ 181,752 100.0% $ 200,742 100.0% Gross profit 25,021 13.8% 25,712 12.8% Sell
Slide 5: Income Statement - Fiscal Year
For the Fiscal Years Ended (3) June 29, 2014June 30, 2013 Net sales$ 687,902 100.0% $ 713,962 100.0% Gross profit 83,262 12.1% 73,104 10.2% Selling, general and administrative expenses 46,203 6.7% 47,386 6.6% Operating income 31,483 4.6% 22,463 3.1% Interest expense, net 2,539 3,791 Equity in earnin
Slide 6: Equity Affiliates
6 Equity Affiliates Highlights (Amounts in Thousands, Except Percentages) Unifi, Inc. Fourth Qtr. Conf. Call July 24, 2014 (Unaudited) For the Three Months EndedFor the Fiscal Years Ended June 29, 2014June 30, 2013June 29, 2014June 30, 2013 Earnings: Parkdale America (34%)$ 3,897 $ 4,491 $ 17,846 $
Slide 7: Reconciliations of Net Income to Adjusted EBITDA
7 Reconciliations of Net Income to Adjusted EBITDA (Amounts in Thousands) Unifi, Inc. Fourth Qtr. Conf. Call July 24, 2014 (Unaudited) For the Three Months Ended (3) For the Fiscal Years Ended (3) June 29, 2014June 30, 2013June 29, 2014June 30, 2013 Net income attributable to Unifi, Inc.$ 8,767 $ 10
Slide 8: Working Capital Highlights
8 Working Capital Highlights (Amounts in Thousands) Unifi, Inc. Fourth Qtr. Conf. Call July 24, 2014 (Unaudited) June 29, 2014March 30, 2014June 30, 2013 Receivables, net$ 93,925 $ 97,390 $ 98,392 Inventories 113,370 110,916 110,667 Accounts payable (51,364) (53,276) (45,544) Accrued expenses (1) (1
Slide 9: Capital Structure
9 Capital Structure (Amounts in Thousands) Unifi, Inc. Fourth Qtr. Conf. Call July 24, 2014 (Unaudited) June 29, 2014March 30, 2014June 30, 2013 ABL Revolver$ 26,000 $ 25,400 $ 52,500 ABL Term Loan 68,000 68,000 42,800 Other 5,488 5,111 2,453 Total debt$ 99,488 $ 98,511 $ 97,753 Cash 15,907 13,159 8
Slide 10: Non-GAAP Financial Measures
10 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 11: Non-GAAP Financial Measures - continued
11 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 Af