Rochester,NY 8/10/2009 11:29:39 PM
Unifi, Inc., UFI - Unifi, Inc. announces fiscal 2010
Unifi, Inc.
Unifi, Inc. announced that for fiscal 2010, and expects its revenues to remain to fiscal 2009 approximately, still well below fiscal 2008 levels. The Company also announced that for fiscal 2010, it expects adjusted EBITDA to be in the range of $40 million to $50 million.
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Unifi, Inc. announced that it has closed on the sale and received $9 million in proceeds related to its 50% ownership interest in Yihua Unifi Fibre Industry Co., Ltd., the Company's joint venture with Sinopec Yizheng Chemical Fiber Co., Ltd. (YCFC). Unifi will continue to service customers in Asia through Unifi Textiles Suzhou Co., Ltd. (UTSC), a wholly-owned subsidiary based in Suzhou, China, that is dedicated to the development, sales and service of premium value-added (PVA) yarns.
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