WASHINGTON (dpa-AFX) - HanesBrands Inc. (HBI), a marketer of everyday branded basic apparel, reported third-quarter results. Net income was $109.89 million compared to $90.83 million last year. Profit per share increased to $1.09 from $0.91 prior year. Profit per share from continuing operations was $1.11 compared to $0.85 last year. Net sales increased to $1.22 billion from $1.19 billion last year.
Analysts polled by Thomson Reuters expected the company to report profit of $1.06 per share on revenue of $1.22 billion for the quarter. Analysts' estimates typically exclude special items.
The company revised its 2012 full-year guidance for continuing operations to range of $2.54 to $2.60 per share, compared with previous guidance of $2.50 to $2.60. Net sales are expected to increase approximately 2 percent to approximately $4.52 billion, compared with previous guidance of $4.52 billion to $4.57 billion. Analysts currently expect the company to report 2012 profit per share of $2.56 on revenue of $4.54 billion.
The corresponding guidance for the fourth-quarter is net sales of approximately $1.13 billion to $1.17 billion and profit per share of $1.00 to $1.06. Analysts currently expect the company to report fourth-quarter profit per share of $1.07 on revenue of $1.16 billion.
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