Gildan Activewear Q4 Profit Rises - Quick Facts

(RTTNews) - Gildan Activewear Inc. (GIL.TO, GIL) reported that its fourth-quarter net income rose to $96.78 million or $0.79 per share, from $89.02 million or $0.73 per share, last year. Adjusted net earnings was $102.0 million or $0.83 per share, for the quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.84 for the quarter. Analysts' estimates typically exclude special items.

Net sales rose to $626.16 million, from $561.65 million, a year ago. Analysts expected revenue of $604.71 million for the quarter.

The company provided guidance for fiscal 2014 adjusted earnings per share of $3.00-$3.10, on projected sales revenues of approximately $2.35 billion. Analysts expect the company to report fiscal 2014 profit per share of $3.14 on revenue of $2.37 billion.

The Board of Gildan Activewear has approved a 20% increase in the amount of the current quarterly dividend and has declared a cash dividend of $0.108 per share, payable on January 6, 2014 to shareholders of record on December 12, 2013.