Unifi, Inc. New · NYSE:UFI
Unifi, Inc. New — Unifi — Q3 FY2016 Earnings Presentation
13 slides from Unifi, Inc. New's earnings presentation, Apr 21, 2016
Slide 1: Third Quarter Ended March 27, 2016 Conference Call Slide Presentation
Third Quarter Ended March 27, 2016 Conference Call Slide Presentation (Unaudited Preliminary Results) Exhibit 99.2
Slide 2: Cautionary Statement
CautionaryStatement Certainstatementsincludedhereincontainforward-lookingstatementswithinthemeaningoffederalsecuritieslawsaboutthefinancialconditionandresultsofoperationsofUnifi,Inc.(the“Company”)thatarebasedonmanagement’sbeliefs,assumptionsandexpectationsaboutourfutureeconomicperformance,considerin
Slide 3: Q3 - Income Before Income Taxes
3 Q3 -Income Before Income Taxes Note: The above graphic represents management’s analysis of the amounts which drove changes in income before income taxes forthe noted comparative periods. (1) –Approximates the change from the comparative period due to devaluation of the Brazilian Real. (dollars in
Slide 4: YTD - Income Before Income Taxes
4 YTD -Income Before Income Taxes Note: The above graphic represents management’s analysis of the amounts which drove changes in income before income taxes forthe noted comparative periods. “PY PAL Bargain Purchase” –reflects the Company’s portion of a bargain purchase gain recognized by Parkdale Am
Slide 5: Net Sales and Gross Profit Highlights (Three Month Comparison)
5 Net Sales and Gross Profit Highlights1 1Excluding the ‘All Other’ category; see non-GAAP reconciliation on slide 12. Note: The “Prior Period” ended on March 29, 2015. The “Current Period” ended on March 27, 2016. (dollars in thousands) Three Month Comparison (Q3) Net SalesPolyesterNylonInternation
Slide 6: Net Sales and Gross Profit Highlights (Nine Month Comparison)
6 Net Sales and Gross Profit Highlights1 1Excluding the ‘All Other’ category; see non-GAAP reconciliation on slide 12. Note: The “Prior Period” ended on March 29, 2015. The “Current Period” ended on March 27, 2016. (dollars in thousands) Nine Month Comparison (YTD) Net SalesPolyesterNylonInternation
Slide 7: Equity Affiliates Highlights
7 Equity Affiliates Highlights (dollars in thousands)March 27, 2016March 29, 2015March 27, 2016March 29, 2015Earnings:Parkdale America3,630$ 4,933$ 5,214$ 11,427$ Nylon joint ventures537 526 2,116 1,034 Total4,167$ 5,459$ 7,330$ 12,461$ Bargain purchase gainrecorded by Parkdale America-$ -$ -$ 4,430
Slide 8: Balance Sheet Highlights
1See Non-GAAP Reconciliations included in the Appendix. 8 Balance Sheet Highlights1 Adjusted Working Capital1 Net Debt and Total Liquidity (dollars in thousands)March 27, 2016December 27, 2015June 28, 2015Receivables, net82,454$ 78,149$ 83,863$ Inventories105,944 108,975 111,615 Accounts payable(42,
Slide 9: Appendix
APPENDIX 9
Slide 10: Non-GAAP Reconciliations: Adjusted EBITDA
10 Non-GAAP Reconciliations Adjusted EBITDA (dollars in thousands) March 27, 2016March 29, 2015March 27, 2016March 29, 2015Net income attributable to Unifi, Inc.9,689$ 10,016$ 24,178$ 26,511$ Interest expense, net709 962 2,171 2,364 Provision for income taxes4,166 2,729 10,194 10,083 Depreciation an
Slide 11: Non-GAAP Reconciliations: Adjusted Net Income and Adjusted EPS
11 Non-GAAP Reconciliations Adjusted Net Income and Adjusted EPS (dollars in thousands, except per share) Income Before Income TaxesNet IncomeBasic EPSIncome Before Income TaxesNet IncomeBasic EPSGAAP results13,441$ 9,689$ 0.54$ 12,488$ 10,016$ 0.55$ Key employee transition costs400 268 0.02 - - - L
Slide 12: Non-GAAP Reconciliations: Adjusted Working Capital
12 Non-GAAP Reconciliations Adjusted Working Capital (dollars in thousands) Consolidated Net Sales Consolidated Gross Profit 1 As presented on slides 5 and 6. 1 1 March 27, 2016 March 29, 2015 March 27, 2016 March 29, 2015 Subtotal of Gross Profit by Segment $ 23,494 $ 22,043 $ 66,464 $ 65,818 Gross
Slide 13: OINIFT.
OINIFT.