A modest increase in global sales enabled Unifi Inc. to continue its string of profitable quarters.
Unifi reported after the stock market closed Wednesday net income of $4.7 million, compared with a loss of $41.1 million in the third quarter of 2020.
The Greensboro yarn manufacturer reported a year ago a $45.2 million investment impairment related to receiving $60 million in cash from selling its 34% stake in Parkdale America LLC to majority owner Parkdale Inc.
Diluted earnings were 25 cents a share, compared with a loss $2.23 cents a year ago.
The average earnings forecast was 16 cents by two analysts surveyed by Zacks Investment Research. Analysts typically do not include one-time gains and charges in their forecasts.