MONTREAL (AP) — MONTREAL (AP) — Gildan Activewear Inc. (GIL) on Wednesday reported first-quarter net income of $97.6 million.
The Montreal-based company said it had profit of 54 cents per share. Earnings, adjusted for non-recurring gains, came to 45 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.
The apparel maker posted revenue of $702.9 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $712.8 million.
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