10:03 AM EST - Gildan Activewear Inc. : is boosting its 2007 earnings forecast even as its fourth-quarter profit fell to US$16.8 million from a year-ago US$29.2M after a restructuring charge of $20 million. The earnings forecast for the 2007 financial year rises to $2.55 a share from $2.50. For the quarter ended Sept. 30, Gildan reported net earnings of 28 cents a diluted share, compared with 48 cents per share a year ago. Sales in the fourth quarter amounted to US$235.2 million, a record for any quarter, and up 30.2 percent from $180.7 million in the fourth quarter of last year. Gildan Activewear Inc.
shares T.GIL are trading down $2.24 at $59.01.
