Gildan Activewear posts positive Q4, raises dividend by 20 percent

Announcing its financial results for the fourth quarter and full year, Gildan Activewear Inc. said strong performance in the fourth quarter reflected an increase of 16 percent in GAAP diluted EPS and an increase of 39 percent in adjusted diluted EPS, driven by sales growth of approximately 14 percent and a 230 basis point improvement in adjusted operating margin over the same quarter last year. On a full year basis, the company reported GAAP diluted EPS of 1.66 dollars, up 3 percent over the prior year, and adjusted diluted EPS of 1.86 dollars, up 8 percent on sales growth of around 6 percent, which the company said was in-line with its latest guidance for adjusted diluted EPS of 1.85 dollars to 1.87 dollars and mid-single-digit sales growth.