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UNIFI ANNOUNCES 1993 SALES AND EARNINGS

 GREENSBORO, N.C., July 21 /PRNewswire/ -- In releasing these results, Unifi's (NYSE: UFI) Chairman, G. Allen Mebane, remarked to the shareholders: "Fiscal 1993 was an excellent year for Unifi. Your management is very proud of the many accomplishments of the people who make up the Unifi team.
 "During 1993, your company spent approximately $150 million for plant, property and equipment which we feel will be well-utilized in the coming years. We have started up a new texturizing plant with what we consider to be the next generation of equipment. We have completed the modernization of our covering plants and started replacing the texturing machines that furnish yarn to our dye plants. We think that we have the most modern, low-cost, high-quality facilities in the world.
 "This year marked our entry into the spun yarn business with the acquisition of Vintage Yarns through a pooling of interests. Also, we anticipate being able to complete the acquisition of Pioneer Yarns by the same pooling method in August.
 "Fiscal 1993 sales increased to a record $1.3 billion or 5.6 percent, with earnings from our operations increasing 19.4 percent to $128 million or $1.87 per share. These numbers do not include the $24.8 million pretax charge that we took in 1992 relating to the acquisition of Macfield.
 "The fourth quarter of 1993 had sales of $344 million compared to 1992 sales of $332 million. Earnings were $.50 against $.49 in 1992. Our domestic business showed good improvement over 1992; however, Europe continued to show weaker results. The European economies have been weak for most of the year, but we think that things will be more stable starting with our third fiscal quarter in January 1994.
 "Our domestic business, while excellent in 1993, shows signs of slowing. We had good growth in our second and third quarters; however, when the President and Congress started to discuss raising taxes and not reducing the deficit, consumer confidence weakened. We hope that the adoption of the tax plan will sufficiently satisfy the consumers and let them know how much money they have to spend.
 "The board of directors has declared a $.14 per share cash dividend to shareholders of record on July 30, 1993, payable Aug. 6, 1993. This is an increase from the previous quarterly rate of $.11 per share.
 "Again, I must thank all of the dedicated employees of this company for their hard work under unusual circumstances that occurred during our Fiscal 1993."
 SALES AND EARNINGS
 (In Thousands except per share amounts)
 For the Three Months For the Years
 Ended Ended
 June 27, June 28, June 27, June 28,
 1993 1992 1993 1992
 Net Sales $344,449 $332,049 $1,332,194 $1,260,969
 Costs and Expenses
 Cost of goods
 sold $278,632 $269,360 $1,086,799 $1,045,941
 SG&A Expense 9,586 8,728 35,713 36,387
 Interest Expense 5,190 6,501 23,209 14,737
 Interest (Income)
 Exp. (3,642) (2,953) (13,391) (5,251)
 Other (Income)
 Exp. (1,296) ( 538) ( 5,576) (1,548)
 Merger Costs
 & Exp. 24,805
 $288,470 $281,098 $1,126,754 $1,115,071
 Income from
 Operations $ 55,979 $ 50,951 $ 205,440 $ 145,898
 Income Taxes 21,437 17,994 77,387 57,051
 Net Income $ 34,542 $ 32,957 $ 128,053 $ 88,847
 Primary Earnings
 Per Share $ .50 $ .49 $ 1.87 $ 1.31
 Cash Dividends
 Per Share $ .11 $ .10 $ .42 $ .36
 Average Shares
 Outstanding 68,650 66,697 68,503 68,035
 -0- 7/21/93
 /CONTACT: Robert A. Ward, Executive Vice President, Unifi, Inc., 919-316-5461/
 (UFI)


CO: Unifi, Inc. ST: North Carolina IN: TEX SU: ERN DIV

SB-CM -- CH013 -- 3934 07/21/93 12:18 EDT
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Date:Jul 21, 1993
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