by Sam Collins | February 25, 2013 1:18 am
Unifi Inc. (NYSE:UFI) — This company engages in the manufacture and sale of polyester and nylon yarn products worldwide. It also uses recycled products to produce Repreve winter sportswear for companies like Patagonia, The North Face, and Polartec, and plans to provide products for the X Games Aspen.
Unifi is named as one of the highest growth textile companies listed on the NYSE. It is expected to earn $1.94 per share in fiscal year (FY) 2013 versus $0.27 in FY 2012. It reported net income of $0.23 per share for the six months ending Dec. 23, 2012, versus a loss of $0.36 in the prior year period. Its cash position also improved to $15.2 million from $10.9 million in June 2012.
Last week, the stock broke from a 10-month consolidation off of a double-top with a breakaway gap. Very heavy volume accompanied the breakout. The trading target is $18, but long-term investors should expect a much higher return.
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