GREENSBORO, N.C., June 30 /PRNewswire-FirstCall/ -- Unifi, Inc. (NYSE: UFI) today announced that it has been selected for inclusion in the Russell 3000(R) Index with the annual reconstitution of Russell Investments' family of U.S. indexes, which was released on June 27, 2008. The Russell 3000(R) Index measures the performance of the largest 3,000 U.S. companies representing approximately 98 percent of the investable U.S. equity market and is constructed to provide a comprehensive, unbiased and stable barometer of the broad market.
Bill Jasper, President and CEO of Unifi, said, "Rejoining the Russell 3000(R) Index is a tribute to the operational progress made by our new leadership team over the past year. The team created a plan to improve the long-term profitability of the Company, and the positive momentum we have seen in our results demonstrates the initial success of the plan. We are confident that our selection to the Russell 3000(R) Index will help increase the Company's visibility among a broader base of investment managers and institutional investors." Launched in 1984, Russell provides the leading U.S. equity index family for institutional investors with more than $4.4 trillion in investment assets benchmarked against them. The annual reconstitution of Russell's U.S. indexes is based on the ranking of the largest U.S. stocks based on total market capitalization as of the end of May 2008. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes, and membership remains in place for one year.
Unifi, Inc. (NYSE:UFI) is a diversified producer and processor of multi-filament polyester and nylon textured yarns and related raw materials. The Company adds value to the supply chain and enhances consumer demand for its products through the development and introduction of branded yarns that provide unique performance, comfort and aesthetic advantages. Key Unifi brands include, but are not limited to: aio(R) - all-in-one performance yarns, Sorbtek(R), A.M.Y.(R), Mynx(R) UV, Repreve(R), Reflexx(R), MicroVista(R) and Satura(R). Unifi's yarns and brands are readily found in home furnishings, apparel, legwear, and sewing thread, as well as industrial, automotive, military, and medical applications. For more information about Unifi, visit http://www.unifi.com/.
CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS Certain statements included herein contain forward-looking statements within the meaning of federal security laws about Unifi, Inc.'s (the "Company") financial condition and results of operations that are based on management's current expectations, estimates and projections about the markets in which the Company operates, as well as management's beliefs and assumptions. Words such as "expects," "anticipates," "believes," "estimates," variations of such words and other similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's judgment only as of the date hereof. The Company undertakes no obligation to update publicly any of these forward-looking statements to reflect new information, future events or otherwise.
Factors that may cause actual outcome and results to differ materially from those expressed in, or implied by, these forward-looking statements include, but are not necessarily limited to, availability, sourcing and pricing of raw materials, pressures on sales prices and volumes due to competition and economic conditions, reliance on and financial viability of significant customers, operating performance of joint ventures, alliances and other equity investments, technological advancements, employee relations, changes in construction spending, capital expenditures and long-term investments (including those related to unforeseen acquisition opportunities), continued availability of financial resources through financing arrangements and operations, outcomes of pending or threatened legal proceedings, negotiation of new or modifications of existing contracts for asset management and for property and equipment construction and acquisition, regulations governing tax laws, other governmental and authoritative bodies' policies and legislation, and proceeds received from the sale of assets held for disposal. In addition to these representative factors, forward-looking statements could be impacted by general domestic and international economic and industry conditions in the markets where the Company competes, such as changes in currency exchange rates, interest and inflation rates, recession and other economic and political factors over which the Company has no control. Other risks and uncertainties may be described from time to time in the Company's other reports and filings with the Securities and Exchange Commission. DATASOURCE: Unifi, Inc.
CONTACT: Ronald L. Smith, Vice President, Chief Financial Officer, +1-336-316-5545 Web site: http://www.unifi.com/
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