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HBI » Topics » Highlights from the Third Quarter and Nine Months Ended September 27, 2008

This excerpt taken from the HBI 10-Q filed Oct 31, 2008.
Highlights from the Third Quarter and Nine Months Ended September 27, 2008
 
  •  Diluted earnings per share were $0.17 in the third quarter of 2008, compared with $0.40 in the same quarter in 2007. Diluted earnings per share were $1.14 in the nine month period in 2008, compared with $0.79 in the same nine month period in 2007.
 
  •  Operating profit was $58 million in the third quarter of 2008, compared with $106 million in the same quarter in 2007. Operating profit was $259 million in the nine month period in 2008, compared with $263 million in the same nine month period in 2007.
 
  •  Total net sales in the third quarter of 2008 of $1.15 billion were comparable to the same quarter in 2007. Total net sales in the nine month period in 2008 were lower by $102 million at $3.21 billion compared to the same nine month period in 2007.
 
  •  During the first nine months of 2008, we approved actions to close 11 manufacturing facilities and two distribution centers in El Salvador, Mexico, Costa Rica, Honduras and the United States. The production capacity represented by the manufacturing facilities will be relocated to lower cost locations


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  in Asia, the Caribbean Basin and Central America. The distribution capacity will be relocated to our West Coast distribution facility in California in order to expand capacity for goods we source from Asia. In addition, we completed several such actions in the first nine months of 2008 that were approved in 2007.
 
  •  Capital expenditures were $123 million during the first nine months of 2008 as we continued to build out our textile and sewing network in Asia, the Caribbean Basin and Central America.
 
  •  We repurchased $30 million of company stock during the first nine months of 2008.
 
  •  We ended the third quarter of 2008 with $443 million of borrowing availability under our revolving loan facility, $86 million in cash and cash equivalents and $47 million of borrowing availability under our international loan facilities.
 
This excerpt taken from the HBI 10-Q filed Aug 1, 2008.
Highlights from the Second Quarter and Six Months Ended June 28, 2008
 
  •  Diluted earnings per share were $0.60 in the second quarter of 2008, compared with $0.26 in the same quarter in 2007. Diluted earnings per share were $0.97 in the six month period in 2008, compared with $0.39 in the same six month period in 2007.
 
  •  Operating profit was $113 million in the second quarter of 2008, up from $88 million in the same quarter in 2007. Operating profit was $201 million in the six month period in 2008, up from $157 million in the same six month period in 2007.
 
  •  Total net sales in the second quarter of 2008 were lower by $50 million at $1.07 billion compared to the same quarter in 2007. Total net sales in the six month period in 2008 were lower by $102 million at $2.06 billion compared to the same six month period in 2007.
 
  •  During the first six months of 2008, we approved actions to close two manufacturing facilities and two distribution centers in Heredia, Costa Rica, Aguascalientes, Mexico and the United States. The production capacity related to the manufacturing facilities will be relocated to lower cost locations in Asia and Central America. The distribution capacity will be relocated to our West Coast distribution facility in California in order to expand capacity for goods we source from Asia. In addition, we completed several such actions in the first six months of 2008 that were approved in 2007.
 
  •  Capital expenditures were $74 million during the first six months of 2008 as we continued to build out our textile and sewing network in Asia and Central America.
 
  •  During the second quarter of 2008, we added three company-owned sewing plants in Southeast Asia — two in Vietnam and one in Thailand — giving us four sewing plants in Asia.
 
  •  We repurchased $11 million of company stock during the first six months of 2008.
 
  •  We ended the second quarter of 2008 with an excess of $598 million of liquidity, which consists of $438 million of borrowing availability under our undrawn revolving loan facility, $97 million in cash and cash equivalents and $63 million of borrowing availability under our international loan facilities.


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This excerpt taken from the HBI 10-Q filed May 7, 2008.
Highlights from the First Quarter Ended March 29, 2008
 
  •  Diluted earnings per share were $0.38 in the first quarter of 2008, compared with $0.12 in 2007.
 
  •  Operating profit was $88 million in the first quarter of 2008, up from $69 million in 2007.
 
  •  Total net sales in the first quarter of 2008 were lower by $52 million at $988 million compared to 2007.
 
  •  We approved actions to close two manufacturing facilities in Heredia, Costa Rica and Aguascalientes, Mexico during the first quarter of 2008. In addition, we completed several actions in the first quarter of 2008 that were announced in 2007.
 
  •  Capital expenditures were $28 million during the first quarter of 2008 as we continued to build out our textile and sewing network in Asia and Central America.
 
  •  Using cash flow from operating activities, we repurchased $8 million of company stock during the first quarter of 2008.


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  •  We ended the first quarter of 2008 with an excess of $600 million of liquidity, which consists of $436 million of borrowing availability under our undrawn revolving loan facility, $121 million in cash and cash equivalents and $96 million of borrowing availability under our international loan facilities.
 

EXCERPTS ON THIS PAGE:

10-Q
Oct 31, 2008
10-Q
Aug 1, 2008
10-Q
May 7, 2008

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