Gildan Activewear (GIL) Tops Q3 EPS by 5c; Updates FY Revenue Guidance
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Gildan Activewear (NYSE: GIL) reports Q3 adjusted EPS of $0.54, 5 cents better than estimates. Revenues were $395.3 million vs. $392.45 million consensus.
The Company is continuing to project full year sales revenues for fiscal 2010 of approximately U.S. $1.3 billion, up approximately 25% from fiscal 2009. (Street Consensus is $1.32B)
(In spite of the strong activewear sales in the third quarter, the updated full year sales outlook continues to assume unit sales volume growth in activewear and underwear of approximately 30%, as activewear shipments in the fourth quarter are assumed to be constrained by the current low level of finished goods inventories)
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The Company is continuing to project full year sales revenues for fiscal 2010 of approximately U.S. $1.3 billion, up approximately 25% from fiscal 2009. (Street Consensus is $1.32B)
(In spite of the strong activewear sales in the third quarter, the updated full year sales outlook continues to assume unit sales volume growth in activewear and underwear of approximately 30%, as activewear shipments in the fourth quarter are assumed to be constrained by the current low level of finished goods inventories)
[SM]
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