HanesBrands Reports Fourth-Quarter 2012 Financial Results and Provides Fiscal 2013 Guidance
In May 2012, the company announced exiting certain international and domestic imagewear businesses that are all now classified as discontinued operations.
On May 30, Hanes sold its European imagewear business, and the company has completed the discontinuation of its private-label and Outer Banks domestic imagewear operations serving wholesalers that sell to the screen-print industry. In accordance with generally accepted accounting principles, the company reported results for the second, third and fourth quarters on a continuing-operations basis and revised prior-period results to reflect continuing operations. The company’s branded printwear operations will continue to operate and serve the domestic screen-print market with Hanes and Champion brand products.
For the full year, discontinued operations reported a loss per diluted share of $0.68—a loss of $0.03 in the first quarter, a loss of $0.66 in the second quarter, a loss of $0.01 in the third quarter, and earnings of $0.02 in the fourth quarter.
The company has updated information on discontinued operations and financial results for prior periods, including posting a five-year history of results from continuing operations. The information is available in the investors section of the company’s corporate website.
Webcast Conference Call
Yesterday, Hanes hosted a live Internet webcast of its quarterly investor conference call. An archived replay of the conference call webcast is available in the investors section of the HanesBrands website. A telephone playback will be available through midnight EST Feb. 12, 2013. The replay will be available by calling toll-free (855) 859-2056, or by calling (404) 537-3406. The replay pass code is 92989781.