May 7, 2008 / 8:49 PM / in 9 years

REFILE-Gildan reports higher second-quarter profit

(Refiles to fix spelling of Gildan in headline) (In U.S. dollars)

TORONTO, May 7 (Reuters) - Gildan Activewear Inc (GIL.TO) (GIL.N), reported a higher second-quarter profit on Wednesday, helped by stronger sales and selling prices for its clothing lines.

The company, which sells T-shirts, socks and underwear, said net profit rose to $41.7 million, or 34 cents a diluted share, in the quarter ended March 30. That compares with a profit of $21.1 million, or 17 cents a share, in the same period last year.

Before restructuring charges, Gildan said adjusted net earnings for the second quarter were $42.5 million, or 35 cents a share, compared with adjusted net earnings of $37.5 million, or 31 cents per share, a year ago. ($1=$1.01 Canadian) (Reporting by John McCrank; editing by Rob Wilson)

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