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UNIFI REPORTS SECOND QUARTER SALES AND EARNINGS, STOCK SPLIT AND DIVIDEND INCREASE

 GREENSBORO, N.C., Jan. 21 /PRNewswire/ -- Unifi, Inc. (NYSE: UFI) today reported the following results:
 For the second quarter ended December 27, 1992, sales increased 6.5 percent to $278.4 million and earnings increased from 44 cents per share to 54 cents per share, a 22.7 percent increase. For the six-month period, sales increased from $521.8 million to $551.2 million, or 5.6 percent. Net income per share excluding merger expenses of 46 cents per share incurred in 1991 increased from $.84 to $1.04. After including merger-related expense, the net earnings for the six months increased from $.38 to $1.04.
 We continued to enjoy strong demand in the home furnishings, automotive and apparel channels of our domestic polyester distribution. Domestic sales of nylon and covered yarns were generally good in the quarter. Inventories at our customer level, as well as at retail, continue to be monitored closely. Our twenty percent capacity increase in conventional covering equipment was begun with the additional sales in place. Export volumes were slightly below historic levels, as certain world markets have been affected by slowing economies.
 In Europe, economic conditions have not improved and non-traditional currency relationships remain in place. In face of these conditions, we have been able to operate at capacity in our polyester operations, but expect some curtailment in nylon texturing. Overall, margins have been impacted.
 On January 21, 1993, your Board of Directors declared both a 3-for-2 stock split and a cash dividend of 16.5 cents per share on the shares outstanding before the stock split. The 16.5 cents dividend is a 10 percent increase in the previous dividend rate. The record date for the stock split and the cash dividend is February 5, 1993 and the payable date is February 16, 1993.
 On December 15, 1992, we announced discussions with Vintage Yarns, Inc. in regard to our entering into a plan of business merger on a stock-for-stock basis. These discussions are still in process and subject to corporate and governmental regulatory approvals. The acquisition will complement Unifi's existing polyester and nylon yarn texturing operations by the addition of spun cotton and synthetic yarn products. Such plan, if concluded, is scheduled to be completed in late February or early March, 1993.
 SALES AND EARNINGS
 (UNAUDITED)
 (In Thousands Except Per Share Data)
 For the Quarters Ended For the Six Months Ended
 Dec. 27, Dec. 29, Dec. 27, Dec. 29,
 1992 1991 1992 1991
 Net Sales $278,448 $261,282 $551,176 $521,822
 Costs and Expenses
 Cost of Goods
 Sold $233,799 $225,591 $465,935 $450,869
 S, G & A 9,036 8,390 16,698 16,924
 Interest Expense 6,297 819 10,510 2,433
 Interest Income (4,460) ( 458) (7,415) (1,351)
 Other Income
 (Expense) ( 219) ( 634) ( 599) ( 835)
 Merger Expense -- -- -- 24,805
 $244,253 $233,708 $485,129 $492,845
 Income Before
 Income Taxes $34,195 $27,574 $66,047 $28,977
 Income Taxes 12,490 10,108 24,193 14,056
 Net Income $21,705 $17,466 $41,854 $14,921
 Earnings Per Share $.54 $.44 $1.04 $.38
 Cash Dividends
 Declared $.165 $.15 $.315 $.30
 Average Shares
 Outstanding 40,167 40,121 40,156 39,967
 -0- 1/21/93
 /CONTACT: Robert A. Ward, Executive Vice President, Unifi, Inc. 919-316-5461/
 (UFI)


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

JM -- CH006 -- 7358 01/21/93 11:27 EST
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Date:Jan 21, 1993
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