Gildan Activewear Inc. has announced record financial results for the fourth quarter and fiscal year ended October 2, 2005.

Gildan reported fourth quarter net earnings of $29.2 million, up 73.6% from the fourth quarter of last year. Earnings in the fourth quarter of fiscal 2005 included an after-tax gain of $0.8 million from the sale of equipment pursuant to the closure of the company's Canadian yarn-spinning facilities in the second quarter of the year. Sales in the fourth quarter amounted to $180.7 million, up 24.1% from the fourth quarter a year ago, reflecting a 25.2% increase in unit shipments. Net earnings were $86.0 million compared with $60.3 million in fiscal 2004.

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