Hanesbrands caps a successful year with solid Q4 performance

31 Jan '08

3 min read

Hanesbrands Inc, a leading marketer of innerwear, outerwear and hosiery apparel, reported results for the 2007 fourth quarter.

Diluted earnings per share in the fourth quarter increased to $0.52 from $0.25. Non-GAAP diluted earnings per share, which exclude actions, increased by 31 percent in the quarter to $0.38 as a result of increased sales and cost-reduction initiatives.

Total net sales in the quarter increased by 2.4 percent to $1.16 billion.

“We capped a successful first year, in which we exceeded our financial goals, with solid performance in the fourth quarter in a tough consumer climate,” said Hanesbrands Chief Executive Officer Richard A. Noll. “And, as we have done all year, we continued to generate strong cash flow, using it to reduce long-term debt by an additional $50 million in the quarter.”

Noteworthy Financial Highlights:
Selected highlights for the fourth quarter and fiscal year ended Dec. 29, 2007, include:

• Total net sales in the quarter increased by 2.4 percent to $1.16 billion – the fourth consecutive quarter of sales growth. By sequential quarter, sales in the fiscal year grew by 0.7 percent, 0.2 percent, 3.1 percent and 2.4 percent. Total net sales for the full fiscal year increased by $71 million, or 1.6 percent, to $4.47 billion.

“One of our strategies is to invest in our largest and strongest brands with innovative key items supported by great media,” Noll said. “This strategy is delivering results.”

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