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HBI » Topics » Noteworthy Financial Highlights

This excerpt taken from the HBI 8-K filed Apr 27, 2009.

Noteworthy Financial Highlights

Selected highlights for the quarter ended April 4, 2009, compared with the year-ago quarter ended March 29, 2008, include:

 

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Earnings per diluted share in the quarter swung to a loss of $0.20, from a profit of $0.38 a year ago. Non-GAAP diluted EPS, which excludes actions, decreased to $0.03, from $0.42 a share a year ago.

 

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Total net sales in the quarter decreased by $130 million to $857.8 million, from $987.8 million a year-ago. Sales declined in each segment, with a single-digit decline in the Innerwear segment and double-digit declines in the Outerwear, International and Hosiery segments.

In the first quarter, the Innerwear sales decline of 6 percent was less severe than the 11 percent decline in the fourth quarter 2008. As expected, the Outerwear sales decline of 21 percent was more severe than the 8 percent decline in the fourth quarter, primarily due to lower casualwear sales in the retail and wholesale channels. Based on advanced booked sales, the company expects improvement in the sales decline rate for the Outerwear segment to a decline in the mid-single digits in the third quarter.

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