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Shareholders' Equity
9 Months Ended
Mar. 31, 2019
Stockholders Equity Note [Abstract]  
Shareholders' Equity

13.  Shareholders’ Equity

 

For the three-months ended March 31, 2019:

 

 

Shares

 

 

Common Stock

 

 

Capital in Excess of Par Value

 

 

Retained Earnings

 

 

Accumulated Other Comprehensive Loss

 

 

Total Shareholders’ Equity

 

Balance at December 30, 2018

 

 

18,383

 

 

$

1,838

 

 

$

59,619

 

 

$

375,195

 

 

$

(42,725

)

 

$

393,927

 

Options exercised

 

 

6

 

 

 

 

 

 

29

 

 

 

 

 

 

 

 

 

29

 

Conversion of restricted stock units

 

 

24

 

 

 

3

 

 

 

(3

)

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

9

 

 

 

1

 

 

 

(314

)

 

 

 

 

 

 

 

 

(313

)

Common stock withheld in satisfaction of tax withholding obligations under net share settle transactions

 

 

(11

)

 

 

(1

)

 

 

(243

)

 

 

 

 

 

 

 

 

(244

)

Other comprehensive loss, net of tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(415

)

 

 

(415

)

Net loss

 

 

 

 

 

 

 

 

 

 

 

(1,529

)

 

 

 

 

 

(1,529

)

Balance at March 31, 2019

 

 

18,411

 

 

$

1,841

 

 

$

59,088

 

 

$

373,666

 

 

$

(43,140

)

 

$

391,455

 

 

For the nine-months ended March 31, 2019:

 

 

Shares

 

 

Common Stock

 

 

Capital in Excess of Par Value

 

 

Retained Earnings

 

 

Accumulated Other Comprehensive Loss

 

 

Total Shareholders’ Equity

 

Balance at June 24, 2018

 

 

18,353

 

 

$

1,835

 

 

$

56,726

 

 

$

371,753

 

 

$

(40,533

)

 

$

389,781

 

Options exercised

 

 

22

 

 

 

2

 

 

 

271

 

 

 

 

 

 

 

 

 

273

 

Conversion of restricted stock units

 

 

41

 

 

 

4

 

 

 

(4

)

 

 

 

 

 

 

 

 

 

Stock-based compensation

 

 

10

 

 

 

1

 

 

 

2,471

 

 

 

 

 

 

 

 

 

2,472

 

Common stock withheld in satisfaction of tax withholding obligations under net share settle transactions

 

 

(15

)

 

 

(1

)

 

 

(376

)

 

 

 

 

 

 

 

 

(377

)

Other comprehensive loss, net of tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,607

)

 

 

(2,607

)

Adoption of the New Revenue Recognition Guidance

 

 

 

 

 

 

 

 

 

 

 

459

 

 

 

 

 

 

459

 

Net income

 

 

 

 

 

 

 

 

 

 

 

1,454

 

 

 

 

 

 

1,454

 

Balance at March 31, 2019

 

 

18,411

 

 

$

1,841

 

 

$

59,088

 

 

$

373,666

 

 

$

(43,140

)

 

$

391,455

 

 

For the three-months ended March 25, 2018:

 

 

 

Shares

 

 

Common Stock

 

 

Capital in Excess of Par Value

 

 

Retained Earnings

 

 

Accumulated Other Comprehensive Loss

 

 

Total Shareholders’ Equity

 

Balance at December 24, 2017

 

 

18,291

 

 

$

1,829

 

 

$

55,215

 

 

$

360,702

 

 

$

(31,457

)

 

$

386,289

 

Options exercised

 

 

17

 

 

 

1

 

 

 

(1

)

 

 

 

 

 

 

 

 

 

Conversion of restricted stock units

 

 

26

 

 

 

3

 

 

 

(3

)

 

 

 

 

 

 

 

 

 

Common stock withheld in satisfaction of tax withholding obligations under net share settle transactions

 

 

(6

)

 

 

(1

)

 

 

(196

)

 

 

 

 

 

 

 

 

(197

)

Stock-based compensation

 

 

 

 

 

1

 

 

 

1,184

 

 

 

 

 

 

 

 

 

1,185

 

Other comprehensive income, net of tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,628

 

 

 

2,628

 

Net income

 

 

 

 

 

 

 

 

 

 

 

176

 

 

 

 

 

 

176

 

Balance at March 25, 2018

 

 

18,328

 

 

$

1,833

 

 

$

56,199

 

 

$

360,878

 

 

$

(28,829

)

 

$

390,081

 

 

 

For the nine-months ended March 25, 2018:

 

 

Shares

 

 

Common Stock

 

 

Capital in Excess of Par Value

 

 

Retained Earnings

 

 

Accumulated Other Comprehensive Loss

 

 

Total Shareholders’ Equity

 

Balance at June 25, 2017

 

 

18,230

 

 

$

1,823

 

 

$

51,923

 

 

$

339,940

 

 

$

(32,880

)

 

$

360,806

 

Options exercised

 

 

71

 

 

 

7

 

 

 

212

 

 

 

 

 

 

 

 

 

219

 

Conversion of restricted stock units

 

 

29

 

 

 

3

 

 

 

(3

)

 

 

 

 

 

 

 

 

 

Common stock withheld in satisfaction of tax withholding obligations under net share settle transactions

 

 

(6

)

 

 

(1

)

 

 

(196

)

 

 

 

 

 

 

 

 

(197

)

Stock-based compensation

 

 

4

 

 

 

1

 

 

 

4,263

 

 

 

 

 

 

 

 

 

4,264

 

Other comprehensive income, net of tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4,051

 

 

 

4,051

 

Net income

 

 

 

 

 

 

 

 

 

 

 

20,938

 

 

 

 

 

 

20,938

 

Balance at March 25, 2018

 

 

18,328

 

 

$

1,833

 

 

$

56,199

 

 

$

360,878

 

 

$

(28,829

)

 

$

390,081

 

 

No dividends were paid during the nine months ended March 31, 2019 or in the two most recently completed fiscal years.

Stock Repurchase Program

On April 23, 2014, UNIFI announced that its Board of Directors (the “Board”) had approved a stock repurchase program (the “2014 SRP”) under which UNIFI was authorized to acquire up to $50,000 of its common stock.  UNIFI made no repurchases of its shares of common stock during the nine months ended March 31, 2019. Through October 31, 2018 (the date the 2014 SRP was terminated, as discussed below), UNIFI had repurchased a total of 806 shares, at an average price of $27.79 (for a total of $22,409, inclusive of commission costs) pursuant to the 2014 SRP.  

 

On October 31, 2018, UNIFI announced that the Board had terminated the 2014 SRP and approved a new stock repurchase program (the “2018 SRP”) under which UNIFI is authorized to acquire up to $50,000 of its common stock. Under the 2018 SRP, purchases will be made from time to time in the open market at prevailing market prices, through private transactions or block trades. The timing and amount of repurchases will depend on market conditions, share price, applicable legal requirements and other factors. The share repurchase authorization is discretionary and has no expiration date.

 

As of March 31, 2019, $50,000 remained available for repurchase under the 2018 SRP.