India, July 31 -- Gildan Activewear Inc. (GIL) Thursday announced a surge in second quarter earnings, compared to the prior year. On an adjusted basis, earnings came in above estimates. Revenues were up 6.5 percent from the previous year.
For the full year, the company now projects a reduced adjusted earnings per share range and expects third quarter sales increase in low single digits, from prior year.
Quarterly earnings surged 136.2 percent to $137.9 million or $0.91 per share from $58.4 million 40.35 per share last year.
On an adjusted basis, earnings were $145.9 million or $0.97 per share, up from $124.7 million or $0.74 per share a year ago.
On average, analysts expected the company to earn $0.96 per share. Analysts estimates usual...