Hanesbrands Inc. Q1 Loss Increases, But Beats Estimates

(RTTNews) - Hanesbrands Inc. (HBI) announced Loss for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled -$39.12 million, or -$0.11 per share. This compares with -$34.40 million, or -$0.10 per share, in last year's first quarter.

Excluding items, Hanesbrands Inc. reported adjusted earnings of -$7.40 million or -$0.02 per share for the period.

Analysts on average had expected the company to earn -$0.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.5% to $1.16 billion from $1.39 billion last year.

Hanesbrands Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$39.12 Mln. vs. -$34.40 Mln. last year. -EPS (Q1): -$0.11 vs. -$0.10 last year. -Revenue (Q1): $1.16 Bln vs. $1.39 Bln last year.

-Guidance: Next quarter EPS guidance: $0.07 - $0.11 Next quarter revenue guidance: $1.335 - $1.375 Bln Full year EPS guidance: $0.42 - $0.48 Full year revenue guidance: $5.35 - $5.47 Bln