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Gildan: 4Q Earnings Snapshot

MONTREAL (AP) _ Gildan Activewear Inc. (GIL) on Thursday reported fourth-quarter net income of $59.6 million.

The Montreal-based company said it had net income of 29 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 43 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The apparel maker posted revenue of $742.7 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $710 million.

For the year, the company reported profit of $350.8 million, or $1.66 per share. Revenue was reported as $2.91 billion.

For the current quarter ending in April, Gildan expects its per-share earnings to range from 24 cents to 26 cents.

The company expects full-year earnings in the range of $2 to $2.10 per share.

Gildan shares have climbed 13 percent since the beginning of the year. The stock has increased 12 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GIL at https://www.zacks.com/ap/GIL