By  on August 14, 2008

MONTREAL — The purchase of a sock business boosted revenues and helped Gildan Activewear Inc. to higher third-quarter profits despite restructuring charges and higher expenses.

For the three months ended July 6, the firm reported net income rose 3.1 percent to $54 million, or 44 cents a diluted share, including 2 cents a share of restructuring charges, versus $52.4 million, or 43 cents, a year earlier. Excluding restructuring charges in both years, profits were $56.3 million, or 46 cents a share, in the most recent year and $57 million, or 47 cents, in the third quarter of fiscal 2007.

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