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Article: Gildan Activewear Reduces EPS Guidance for Fourth Quarter and Full 2003 Fiscal Year; - Short-Term Factors not Expected to Affect EPS Growth Objectives for Fiscal 2004 and Beyond - - Growth in Industry Demand and Market Share Continues -.
- Article from:
- PR Newswire
- Article date:
- September 12, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Gildan Activewear (NYSE: GIL; TSX: GIL.A) today announced that it expects its earnings for the fourth quarter and for the full 2003 fiscal year to be lower than previously forecasted. Gildan is forecasting full year diluted EPS in the range of $2.55 - $2.60, up 13% - 15% from fiscal 2002. The Company's previous outlook for the current year had reflected guidance towards the high end of the range of $2.70 - $2.80 for diluted EPS. All EPS data for fiscal 2003 include the special charge reflected in the second quarter for closure of the Montreal sewing facility.
In U.S. dollars, the revised fiscal 2003 guidance represents a 20% - 23% increase over fiscal 2002.
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