MONTREAL (AP) _ Gildan Activewear Inc. (GIL) on Wednesday reported first-quarter net income of $98.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Montreal-based company said it had net income of 50 cents. Earnings, adjusted for non-recurring gains, came to 48 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.

The apparel maker posted revenue of $589.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $512.4 million.

Gildan shares have climbed 25% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $35.14, more than doubling in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GIL at https://www.zacks.com/ap/GIL

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News