UPDATE 1-Gildan profit tops estimates, boosts outlook

* Adj EPS $0.41 vs consensus $0.35

* Revenue rises 33.5 pct to $326.8 mln
(Adds details. In U.S. dollars)

TORONTO, May 13 (BestGrowthStock) – Canada’s Gildan Activewear
(GIL.TO: ) reported a higher quarterly profit, handily topping
estimates helped by lower commodity costs and improved sales.
It also boosted its year-end sales forecast.

The Montreal-based company, which makes T-shirts, socks and
underwear, earned $48.8 million, or 40 cents a share, up from
$7.1 million, or 6 cents for the same period a year earlier.

Adjusted net earnings, which excludes restructuring
charges, were $49.8 million, or 41 cents a share.

Revenue during the quarter rose 33.5 percent to $326.8
million.

Analysts, on average, expected a profit of 35 cents a share
excluding items and revenue of $278.4 million, according to
Thomson Reuters I/B/E/S/.

The company expects full year sales to be about $1.3
billion, up from its earlier outlook of about $1.2 billion.

Stock Market Report
($1=$1.02 Canadian)
(Reporting by Scott Anderson; Editing by Derek Caney)

UPDATE 1-Gildan profit tops estimates, boosts outlook