HanesBrands Completes Acquisition of DBApparel and Increases Full-year Earnings Guidance
Reflecting the DBA acquisition, company increases 2014 financial guidance, including raising adjusted EPS expectations by $0.20 to a range of $5.40 to $5.60.
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Adjusted EPS guidance for 2014 has been increased by $0.20 to a range of $5.40 to $5.60, up from previous guidance of $5.20 to $5.40, reflecting the DBA contributions to sales, adjusted operating profit and the corporate tax rate, partially offset by higher interest expense.
The company continues to expect net cash from operating activities to be $500 million to $600 million for the year. Any cash generated in 2014 by DBA is expected to be substantially offset by cash closing expenses for the acquisition. The company continues to expect to make pension contributions of approximately $60 million and net capital expenditures of approximately $70 million.
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