11:52 AM EST - Gildan Activewear Inc. : reported fourth-quarter net earnings of $42.39 million U.S. or $0.35 U.S. per share, compared to $21.83 million U.S. or $0.18 U.S. per share last year. The company noted that the prior year results were recast and reflects the impact of the change in accounting policy. Adjusted net earnings were $42.4 million U.S. or $0.35 U.S. per share, higher than $22.8 million U.S. or $0.19 U.S. per share in the prior-year quarter. On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $0.33 U.S. per share. Analysts' estimates typically exclude special items. Net sales declined to $301.72 million U.S. from $324.72 million U.S. in the same quarter last year. Gildan Activewear Inc.
shares T.GIL are trading up $2.26 at $23.30.
