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Unifi fiscal Q3 profit climbs 45.6% YOY

Unifi Inc. said its normalized net income for the fiscal third quarter ended March 29 was 46 cents per share, compared with the S&P Capital IQ consensus estimate of 40 cents per share.

EPS rose 50.1% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $8.7 million, an increase of 45.6% from $6.0 million in the year-earlier period.

The normalized profit margin rose to 5.1% from 3.4% in the year-earlier period.

Total revenue declined year over year to $170.5 million from $176.9 million, and total operating expenses declined 5.4% year over year to $161.2 million from $170.4 million.

Reported net income increased from the prior-year period to $10.0 million, or 53 cents per share, from $4.7 million, or 24 cents per share.