NEW YORK — Surging sales allowed Gildan Activewear Inc. to easily eclipse analysts’ expectations in the fourth quarter.

For the three months ended Sept. 29, the Montreal-based T-shirt and knitwear manufacturer reported net income of $12.5 million, or 43 cents a diluted share. That compares with last year when the company sustained a net loss of $24.9 million, or 87 cents. Earnings per share overran Wall Street’s forecast by 3 cents.

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