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Hanesbrands profit misses consensus by 28.0% in fiscal Q1

Hanesbrands Inc. said its normalized net income for the fiscal first quarter ended April 4 came to 16 cents per share, compared with the S&P Capital IQ consensus estimate of 23 cents per share.

EPS climbed 14.8% year over year from 14 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $66.2 million, a gain of 14.9% from $57.6 million in the first quarter ended March 29, 2014.

The normalized profit margin rose to 5.5% from 5.4% in the year-earlier period.

Total revenue grew 14.1% on an annual basis to $1.21 billion from $1.06 billion, and total operating expenses rose 14.2% on an annual basis to $1.08 billion from $944.9 million.

Reported net income grew 30.1% year over year to $53.1 million, or 13 cents per share, from $40.8 million, or 10 cents per share.