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.
SOURCE Unifi, Inc.
Ronald L. Smith, Vice President, Chief Financial Officer, +1-336-316-5545
