Gildan Activewear Inc. (GIL) comes on our radar after issuing upbeat earnings outlook for the first quarter and fiscal 2013.
The company projects first-quarter adjusted profit per share of $0.28 - $0.31 in the first quarter of fiscal 2013, on net sales revenues in excess of $400 million. Analysts expect the company to report first-quarter earnings per share of $0.25 on revenue of $386.76 million.
The company initiated its guidance for fiscal 2013 with adjusted profit per share of $2.60 - $2.70, on net sales revenues of about $2.1 billion. Analysts expect the company to report fiscal 2013 profit per share of $2.51 on revenue of $2.22 billion.
Q4 Results
- Q4 net income increased to $89.02 million from $48.46 million last year.
- Q4 earnings per share was $0.73 versus $0.40 last year.
- Q4 adj. earnings per share was $0.78. Consensus - $0.80/Shr.
- Q4 net sales were $561.65 million versus $481.63 million last year. Consensus - $562.68 million.
Q3 Results
- Q3 net income declined to $78.6 million or $0.64 a share from $88.1 million or $0.72 a share last year.
- Q3 adj. earnings decreased to $80.2 million or $0.66 a share from $93.7 million or $0.76 a share a year ago. Consensus - $0.67/Shr.
- Q3 net sales grew 13.3% to $600.2 million. Consensus - $591.13 million.
Q2 Results
- Q2 net income was $26.9 million or $0.22 per share versus $61.7 million or $0.50 per share a year ago.
- Q2 adj. EPS was $0.23 versus $0.53 last year. Consensus - $0.21 per share.
- Q2 net sales rose to $482.6 million from $383.2 million a year ago. Consensus - $500.36 million.
Q1 Results
- Q1 net loss was $46.1 million or $0.38 per share versus profit $35.9 million or $0.29 per share last year.
- Q1 net sales dropped 8% to $303.8 million from $331.2 million a year earlier.
Annual Financial Data
Net sales revenues for fiscal 2012 amounted to $1.95 billion, compared to $1.73 billion in fiscal 2011, and $1.31 billion in 2010.
Net earnings were $148.5 million or $1.22 per share in fiscal 2012, compared to $234.2 million or $1.91 per share in fiscal 2011, and $198.2 million or $1.63 per share in 2010.
Company Profile
Gildan Activewear manufactures and sells apparel products primarily in the United States, Canada, and Europe. It sells T-shirts, fleece, and sport shirts to wholesale distributors under the Gildan brand name. Gildan also provides its activewear products for work and school uniforms and athletic team wear, and other purposes to convey individual, group, and team identity.
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