By  on April 20, 2012

Higher cotton costs helped drag Hanesbrands Inc. into the red for the first quarter, but the company beat analyst estimates and said the worst had passed.

Net losses totaled $26.8 million, or 27 cents a share, and compared with year-ago earnings of $48.1 million, or 49 cents. Analysts expected the company to post slightly steeper losses of 33 cents a share.

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