WASHINGTON (dpa-AFX) - Apparel marketer HanesBrands (HBI) Thursday reported first-quarter net income of $41.6 million or $0.41 per share, compared to $51.4 million or $0.51 per share last year.
Adjusted earnings for the latest fourth quarter was $0.76 per share, up from $0.51 per share last year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit of $0.58 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter rose 12.0 percent to $1.06 billion from $945.46 million a year ago. Analysts estimated revenues of $1.08 billion for the quarter.
For 2014, Hanes now expects adjusted earnings of $4.80 to $5.00 and net sales of slightly less than $5.1 billion. Analysts currently expects earnings of $4.73 per share on revenues of $5.08 billion.
Earlier, the company expected full-year earnings of $4.60 to $4.80 per share.
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