Gildan Activewear Announces Second Quarter Results
- Significant Decline in Sales and Gross Margins
- Company Expects Improvement in Gross Margins In Second Half of Year but Continuation of Weak Demand
- Free Cash Flow Projected to be Positive for Full Fiscal Year
Gildan Activewear Inc. (Toronto:GIL.TO)(NYSE:GIL) today announced its financial results for the second quarter of its 2009 fiscal year, and provided certain planning and financial modeling assumptions for the second half of the fiscal year.
Sales and Earnings
Gildan reported net earnings of U.S. $7.1 million and diluted EPS of U.S. $0.06 for its second fiscal quarter ended April 5, 2009, compared with net earnings of U.S. $42.1 million and diluted EPS of U.S. $0.35 in the second quarter of fiscal 2008.
- Published: 14 May 2009
- Written by Editor