HanesBrands Q4 Adj. EPS Tops View - Quick Facts

(RTTNews) - Apparel marketer HanesBrands (HBI) Wednesday reported fourth-quarter net income of $32.3 million or $0.32 per share, compared to $80.4 million or $0.81 per share last year.

Adjusted earnings for the latest fourth quarter was $0.98 per share, down from $1.07 per share last year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit of $0.90 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter rose 11.5 percent to $1.29 billion from $1.15 billion a year ago. Analysts estimated revenues of $1.26 billion for the quarter.

For 2014, Hanes now expects adjusted earnings of $4.60 to $4.80 and net sales of slightly less than $5.1 billion. Analysts currently expects earnings of $4.48 per share on revenues of $5.07 billion.

Earlier, the company expected full-year earnings of $3.75 to $3.85 per share, with revenues of slightly more than $4.6 billion.

On a GAAP basis, full-year 2014 diluted EPS will vary depending on actual performance, charges and tax rate. GAAP diluted earnings could be in the range of $3.80 to $4.30 per share.