The 10-second takeaway
For the quarter ended Sep. 23 (Q1), Unifi missed slightly on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew slightly and GAAP earnings per share grew significantly.
Margins expanded across the board.
Unifi booked revenue of $172.9 million. The three analysts polled by S&P Capital IQ foresaw revenue of $176.3 million on the same basis. GAAP reported sales were 1.1% higher than the prior-year quarter's $171.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.11. The two earnings estimates compiled by S&P Capital IQ averaged $0.37 per share. GAAP EPS of $0.11 for Q1 were much higher than the prior-year quarter's $0.01 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 10.4%, 350 basis points better than the prior-year quarter. Operating margin was 3.6%, 280 basis points better than the prior-year quarter. Net margin was 1.3%, 110 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $174.9 million. On the bottom line, the average EPS estimate is $0.30.
Next year's average estimate for revenue is $733.1 million. The average EPS estimate is $1.42.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 54 members out of 69 rating the stock outperform, and 15 members rating it underperform. Among 19 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 15 give Unifi a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Unifi is buy, with an average price target of $15.50.
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