MONTREAL (AP) — MONTREAL (AP) — Gildan Activewear Inc. (GIL) on Tuesday reported first-quarter net income of $84.7 million.
The Montreal-based company said it had net income of 56 cents per share. Earnings, adjusted for non-recurring costs, were 59 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The apparel maker posted revenue of $711.7 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $711.1 million.
Gildan expects full-year earnings in the range of $3.38 to $3.58 per share.
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