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<SEC-DOCUMENT>0001061894-03-000007.txt : 20031204
<SEC-HEADER>0001061894-03-000007.hdr.sgml : 20031204
<ACCEPTANCE-DATETIME>20031204084335
ACCESSION NUMBER:		0001061894-03-000007
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20031204
FILED AS OF DATE:		20031204

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GILDAN ACTIVEWEAR INC
		CENTRAL INDEX KEY:			0001061894
		STANDARD INDUSTRIAL CLASSIFICATION:	APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1003

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14830
		FILM NUMBER:		031036450

	BUSINESS ADDRESS:	
		STREET 1:		725 MONTEE DE LIESSE
		STREET 2:		VILLE SAINT LAURENT
		CITY:			QUEBEC CANADA
		STATE:			A8
		ZIP:			00000
		BUSINESS PHONE:		5147352023

	MAIL ADDRESS:	
		STREET 1:		725 MONTEE DE LIESSE
		STREET 2:		ST LAURENT QUE
		CITY:			CANADA
		STATE:			A8
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>press_release.htm
<DESCRIPTION>RESULTS
<TEXT>
<HTML>
<HEAD>
<TITLE>Q4 and Year End Earnings Release</TITLE>

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<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B><font size="4">SECURITIES AND EXCHANGE COMMISSION<br>
  WASHINGTON, DC 20549</font></B></FONT></FONT></P>
<p><font size="4">
  <!-- MARKER FORMAT-SHEET="Center Head Bold" -->
</font></p>
<p>&nbsp; </p>
<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B><font size="4">FORM 6-K</font></B></FONT></FONT></P>
<p><font size="4">
  <!-- MARKER FORMAT-SHEET="Center Head Bold" -->
</font></p>
<p>&nbsp; </p>
<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="4"><B>REPORT OF FOREIGN PRIVATE ISSUER<br>
  </B></FONT></FONT>Pursuant to Rule 13a-16 or 15d-16 under <br>
  the Securities Exchange Act of 1934</P>
<P ALIGN="CENTER"><br>
</P>
<DIV align=center>
  <TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>
    <TR>
      <TD width="50%"><FONT face="Times New Roman, Times, serif" size=3>For the month of: <STRONG>December, 2003</STRONG></FONT></TD>
      <TD align=right width="50%"><FONT face="Times New Roman, Times, serif"
      size=3>Commission File Number:<STRONG> 1-14830</STRONG></FONT></TD>
    </TR>
    <TR>
      <TD width="50%"><FONT face="Times New Roman, Times, serif"
      size=3>&nbsp;</FONT></TD>
      <TD width="50%"><FONT face="Times New Roman, Times, serif"
      size=3>&nbsp;</FONT></TD>
    </TR>
    <TR vAlign=bottom align=middle>
      <TD colSpan=2><div align="center"><STRONG>GILDAN ACTIVEWEAR INC.</STRONG></div></TD>
    </TR>
    <TR vAlign=bottom align=middle>
      <TD colSpan=2><div align="center"><FONT face="Times New Roman, Times, serif"
      size=2><EM>(Translation of Registrant's name into English)</EM></FONT></div></TD>
    </TR>
    <TR vAlign=bottom align=middle>
      <TD width="50%"><FONT face="Times New Roman, Times, serif"
      size=3>&nbsp;</FONT></TD>
      <TD width="50%"><p>&nbsp;</p>
          <p>&nbsp;</p></TD>
    </TR>
    <TR vAlign=bottom align=middle>
      <TD colSpan=2><div align="center">
          <P ALIGN="CENTER"><strong><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2">725 Mont&eacute;e de LiesseVille <BR>
            Saint-Laurent, Quebec <br>
          </FONT></FONT><font size="2">Canada H4T 1P5</font></strong></P>
      </div></TD>
    </TR>
    <TR vAlign=bottom align=middle>
      <TD colSpan=2><div align="center"><FONT face="Times New Roman, Times, serif"
      size=2><EM>(Address of principal executive offices)</EM></FONT></div></TD>
    </TR>
    <TR vAlign=bottom align=middle>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
    </TR>
  </TABLE>
</DIV>
<p>&nbsp;</p>
<p><FONT face="Times New Roman, Times, serif" size=3>Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F. </FONT></p>
<p>&nbsp; </p>
<DIV align=center>
  <TABLE cellSpacing=0 cellPadding=0 border=0>
    <TR align=middle>
      <TD vAlign=top width=200>Form 20-F <U>&nbsp;&nbsp; &nbsp;&nbsp;</U>
      <TD vAlign=top width=200>Form 40-F <U>&nbsp;&nbsp;&nbsp;<strong>X</strong>&nbsp;&nbsp;</U></TD>
    </TR>
  </TABLE>
  <p align="left">&nbsp;</p>
</DIV>
<P>
<P>
<P><FONT face="Times New Roman, Times, serif" size=3>Indicate by check mark whether the Registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. </FONT>
<P>
<P>
<DIV align=center>
  <TABLE cellSpacing=0 cellPadding=0 border=0>
    <TR align=middle>
      <TD vAlign=top width=150>Yes <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
      <TD vAlign=top width=150>No <U>&nbsp;&nbsp;<strong>X</strong>&nbsp;&nbsp;</U></TD>
    </TR>
  </TABLE>
</DIV>
<P>
<P>
<P><FONT face="Times New Roman, Times, serif" size=3>If</FONT><FONT color=#0000ff><FONT
color=#0000ff><FONT face=serif
size=2>&nbsp;</FONT></FONT></FONT><FONT face="Times New Roman, Times, serif" size=3> &#8220;Yes&#8221; is marked, indicate below the file number assigned to the Registrant in connection with Rule 12g3-2(b): 82-_<strong>N/A</strong>_.</FONT>
<P>
<P>
<HR color=gray noShade SIZE=3>
<p align="center"><img src="logo.gif" width="263" height="109"></p>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=bottom align=middle>
    <TD><div align="left"><FONT size="3" FACE="Times New Roman, Times, serif"><B></B></FONT></div></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR vAlign=bottom align=middle>
    <TD><div align="left"></div></TD>
    <TD><div align="right"><em><strong><font size="2">For immediate publication </font></strong></em></div></TD>
  </TR>
  <TR vAlign=bottom align=middle>
    <TD><div align="left"></div></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR vAlign=bottom align=middle>
    <TD><div align="left"></div></TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR vAlign=bottom align=middle>
    <TD width="21%"><div align="left"><font size="2" face="Times New Roman, Times, serif">Contact:</font></div></TD>
    <TD width="79%"><div align="left"><font size="2" face="Times New Roman, Times, serif">Laurence G. Sellyn, Executive Vice President Finance</font></div></TD>
  </TR>
  <TR vAlign=bottom align=middle>
    <TD><div align="left"></div></TD>
    <TD><div align="left"><font size="2" face="Times New Roman, Times, serif">and Chief Financial Officer</font></div></TD>
  </TR>
  <TR vAlign=bottom align=middle>
    <TD><div align="left"></div></TD>
    <TD><div align="left"><font size="2" face="Times New Roman, Times, serif">Tel: (514) 343-8805</font></div></TD>
  </TR>
  <TR vAlign=bottom align=middle>
    <TD><div align="left"></div></TD>
    <TD><div align="left"><font size="2" face="Times New Roman, Times, serif"><U>Email: lsellyn@gildan.com</U></font></div></TD>
  </TR>
  <TR vAlign=bottom align=middle>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<p align="center"><font size="2"><strong><U><font size="3">Gildan Activewear Announces Fourth Quarter and Full Year Sales and Earnings
  at <br>
  Top End of Most Recent Guidance Range</font></U>
</strong>    <font size="3">
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</font></font></p>
<P ALIGN="center"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="Times New Roman, Times, Serif"><B>&#151; Company Announces Adoption of US Dollar as Functional Currency for Fiscal 2004 &#151;</B></FONT></font> </P>

<div align="justify"><font size="2"><strong>Montreal,  Thursday,  December 4, 2003</strong> - Gildan  Activewear  Inc.  (NYSE:  GIL; TSX:  GIL.A) today announced its results for its fourth
  fiscal  quarter  and full year ended  October 5, 2003.  The Company  also  announced  that it had  adopted the U.S.  dollar as both its
  financial reporting and functional currency with effect from the beginning of its 2004 fiscal year.

  <!-- MARKER FORMAT-SHEET="Left Head Underline" -->
  </font>
</div>
<P ALIGN="justify"><FONT size="2" FACE="Times New Roman, Times, Serif"><U><br>
  Fourth
Quarter Earnings</U></FONT></P>

<div align="justify">
  <p><FONT size="2" FACE="Times New Roman, Times, Serif">The
  Company reported net earnings of $19.8 million, or $0.66 per diluted share,
  compared with $19.6 million or $0.66 per diluted share in the fourth quarter of
  fiscal 2002. The Company&#146;s most recent fiscal 2003 guidance had reflected a
  range of $0.61-$0.66 for diluted EPS for the fourth quarter.</FONT> <br>
  <br>
  <FONT size="2" FACE="Times New Roman, Times, Serif">Compared
  to last year, the fourth quarter results reflected increased unit sales and
  higher gross margins, together with lower interest expense and a further
  reduction in the Company&#146;s effective tax rate. The positive impact of these
  factors was offset by lower selling prices and the weaker U.S. dollar, as well
  as higher depreciation as a result of the Company&#146;s recent major capital
  investment projects. The negative impact of the lower U.S. dollar on the
  Canadian dollar EPS for the quarter is estimated at approximately $0.15 per
  share. In U.S. dollars, net earnings for the fourth quarter amounted to U.S.
  $14.2 million, or U.S. $0.48 per diluted share, up respectively 11.8% and 11.6%
  from the fourth quarter of fiscal 2002.</FONT> <font size="2"><br>
  <br>
  <FONT FACE="Times New Roman, Times, Serif">Sales
  in the quarter were $150.8 million, down 5.7% from $159.9 million in the fourth
  quarter of fiscal 2002. The lower sales were due to lower selling prices and the
  significant decline in the value of the U.S. dollar, largely offset by a 10.1%
  increase in unit shipments. The higher unit sales reflected 10.4% growth in
  overall industry shipments of T-shirts in the U.S. wholesale distributor market
  combined with continuing market share increases achieved by Gildan, compared
  with the fourth quarter of last year. Gildan maintained its market leadership
  position in the overall T-shirt category, with a share of 29.6% versus 28.0% in the fourth quarter a
  year ago. Gildan continued to achieve significant penetration in the sport shirt
  segment. Although overall industry shipments in the sport shirt segment through
  the U.S. distributor channel declined by 12.6%, the Company&#146;s market share
  increased to 20.7% from 15.0% in the fourth quarter of fiscal 2002. Gildan&#146;s unit shipments in this
  category grew by 24.5% compared with the fourth quarter of last year.
  Gildan&#146;s share in the fleece category also increased significantly in the fourth quarter to
  16.9%, compared with 11.7% a year ago, as the Company expanded its offering of
  fleece products. Industry demand in this segment increased by 11.8% versus the
  fourth quarter of last year. All U.S. market and market share data is based on
  the S.T.A.R.S. Report produced by ACNielsen Market Decisions. Unit shipments to
  Europe increased by 11.1% compared with the fourth quarter of last year.</FONT></font> </p>
</div>
<div align="justify">
  <HR color=gray noShade SIZE=3>
  <font size="2">
  <!-- MARKER FORMAT-SHEET="Para Flush" -->
  </font>
</div>
<P ALIGN="justify"><FONT size="2" FACE="Times New Roman, Times, Serif">Gross
margins were 30.4% in the fourth quarter, compared with 28.1% in the fourth
quarter of fiscal 2002. The increase in gross margins was primarily due to the
significant impact of the Company&#146;s recent capital investments, in
particular its new low-cost integrated textile manufacturing facility at Rio
Nance, Honduras. The resulting reductions in manufacturing and transportation
costs, combined with the impact of more favourable product-mix and lower raw material costs, were largely offset by lower
selling prices.</FONT> </P>

<div align="justify"><FONT size="2" FACE="Times New Roman, Times, Serif">The
lower tax rate in the quarter compared with the fourth quarter of 2002 reflected
the higher growth of sales to the U.S. and Europe compared with Canada, combined
with a higher proportion of production from Honduras as the Company continued to
ramp up the Rio Nance facility towards full capacity.</FONT> </div>
<div align="justify">
  <p><font size="2"><br>
      <FONT FACE="Times New Roman, Times, Serif"><U>Full Year
  Earnings</U></FONT></font></p>
</div>
<div align="justify"><FONT size="2" FACE="Times New Roman, Times, Serif">Net
earnings for the full year ended October 5, 2003 were a record $77.3 million or
$2.60 per diluted share, up respectively 16.2% and 15.0% from $66.5 million or
$2.26 per diluted share. The impact of the weaker U.S. dollar on full year
earnings in fiscal 2003 compared with fiscal 2002 is estimated at approximately
$0.65 per diluted share. In U.S. dollars, net earnings for fiscal 2003 were
$53.2 million, or U.S. $1.79 per diluted share, up respectively 25.5% and 23.4%
from fiscal 2002.</FONT> <font size="2">Fiscal 2003 comprised of 53 weeks instead of the normal 52 weeks for a fiscal year due to the Company's floating year-end date. The extra week was included in third quarter of fiscal 2003. </font></div>
<div align="justify">
  <p><font size="2"><br>
      <FONT FACE="Times New Roman, Times, Serif"><U>Functional
  Currency</U></FONT></font></p>
</div>
<div align="justify"><FONT size="2" FACE="Times New Roman, Times, Serif">The
Company has historically measured and presented its financial statements in Canadian dollars. The Company has determined that it will adopt the U.S. dollar as both its financial
reporting as well as its functional currency, with effect from the beginning of
its 2004 fiscal year. The Company will continue to prepare its financial statements in accordance with Canadian GAAP. The decision to change functional and reporting currency reflects the high proportion of the
Company&#146;s sales, costs, capital expenditures and long-term debt which are
denominated in U.S. dollars. Consequently, the change in functional currency is
expected to minimize the impact of fluctuations in foreign exchange rates
on the Company&#146;s earnings. Historical financial information in U.S. dollars
has been provided in the investor relations section of the Company&#146;s
website, which can be accessed at <U>www.gildan.com.</U></FONT> </div>
<div align="justify">
  <p>&nbsp;</p>
  <HR color=gray noShade SIZE=3>
  <p><FONT size="2" FACE="Times New Roman, Times, Serif">As a
result of adopting the U.S. dollar as its functional currency, both Canadian and U.S. GAAP require that all opening assets and liabilities are translated into U.S.
dollars at the exchange rate prevailing at the time of giving effect to the
change in functional currency. Using the October 6, 2003 exchange rate, the
translated value of opening inventories and fixed assets is approximately U.S.
$23 million higher than the amount that would have resulted from the application
of exchange rates prevailing at the dates these assets were manufactured or
acquired. Accordingly, a one-time currency gain of U.S. $23 million resulting
from the upward revaluation of inventories and fixed assets has been reflected
directly in the balance sheet as part of a separate component of
shareholders&#146; equity. The increase in these opening asset values will have a
corresponding offsetting negative impact on future earnings as opening
inventories are consumed and fixed assets are depreciated. The upward
revaluation of opening inventories will result in lower gross margins in the
first half of fiscal 2004 only, as opening inventories are consumed in cost of
sales, with an adverse effect on EPS in the first and second fiscal quarters of
U.S. $0.06 and U.S. $0.04 respectively. Also, the significant increase in values
for opening fixed assets in U.S. dollars will result in higher annual
depreciation expense on an ongoing basis. In fiscal 2004, depreciation will be
increased by U.S. $1.8 million after tax, or U.S. $0.06 per share. The combined
impact of these factors will be to reduce EPS in fiscal 2004 by approximately
U.S. $0.16 per share.</FONT> </p>
</div>
<div align="justify"><font size="2">
  <!-- MARKER FORMAT-SHEET="Left Head Underline" -->
</font><FONT size="2" FACE="Times New Roman, Times, Serif"><U>Outlook</U></FONT></div>
<div align="justify"><font size="2">
  <!-- MARKER FORMAT-SHEET="Para Flush" -->
  </font>
</div>
<P ALIGN="justify"><FONT size="2" FACE="Times New Roman, Times, Serif">The
Company is projecting a diluted EPS range of U.S. $2.25 &#151; $2.30 for fiscal 2004,
up 25.7% &#151; 28.5% from fiscal 2003, before taking account the estimated U.S.
$0.16 per share impact as a result of revaluing inventories and fixed assets.
After reflecting the accounting changes resulting from the transition to
U.S. functional currency, the Company expects to report diluted EPS for fiscal 2004 of
U.S. $2.10 &#151; $2.15, up 17.3% &#151; 20.1% from fiscal 2003. These
projections assume a 15% increase in unit sales volumes as well as  a slight increase in selling prices in
fiscal 2004 over fiscal 2003, to reflect partial pass-through of significantly
higher cotton costs.</FONT> </P>

<div align="justify"><font size="2">
  <!-- MARKER FORMAT-SHEET="Left Head Underline" -->
</font><FONT size="2" FACE="Times New Roman, Times, Serif"><U>Cash Flow</U></FONT></div>
<div align="justify"><font size="2">
  <!-- MARKER FORMAT-SHEET="Para Flush" -->
  </font>
</div>
<P ALIGN="justify"><FONT size="2" FACE="Times New Roman, Times, Serif">In the
fourth quarter, the Company generated $23.7 million of free cash flow, defined
as cash flows from operating activities less cash used in investing activities.
Free cash flow for the full fiscal year amounted to $31.5 million, after taking
account of capital expenditures for the full year of $58.6 million. The Company
ended the fiscal year with surplus cash reserves of $92.9 million.</FONT> </P>

<div align="justify"><FONT size="2" FACE="Times New Roman, Times, Serif">As of
November 30, 2003 there were 23,427,335 Class A subordinate shares and 6,094,000
Class B multiple voting shares issued and outstanding along with 837,309 options
outstanding.</FONT> </div>
<div align="justify"><font size="2">
  <!-- MARKER FORMAT-SHEET="Left Head Underline" -->
  <br>
</font>
  <HR color=gray noShade SIZE=3>
  <FONT size="2" FACE="Times New Roman, Times, Serif"><U><br>
Profile </U></FONT></div>
<div align="justify"><font size="2">
  <!-- MARKER FORMAT-SHEET="Para Flush" -->
  </font>
</div>
<P ALIGN="justify"><FONT size="2" FACE="Times New Roman, Times, Serif">Gildan
Activewear is a public, vertically-integrated manufacturer and marketer of
premium quality branded basic activewear for sale principally in the wholesale
imprinted activewear segment of the Canadian, U.S. and European apparel markets.
The company manufactures and sells premium quality 100% cotton and 50%
cotton/50% polyester T-shirts, placket collar sport shirts and sweatshirts in a
variety of weights, sizes, colours and styles. The company sells its products as
blanks, which are ultimately decorated with designs and logos for sale to
consumers. Gildan employs more than 9,000 full-time employees.</FONT></P>
<P ALIGN="justify"><FONT size="2" FACE="Times New Roman, Times, Serif"><I>(Unless
otherwise indicated, all amounts are expressed in Canadian dollars.)</I></FONT> </P>
<div align="justify"><font size="2">
  <!-- MARKER FORMAT-SHEET="Para Flush" -->
  </font>
</div>
<P ALIGN="justify"><FONT size="2" FACE="Times New Roman, Times, Serif"><I>Certain statements
included in this press release may constitute &#147;forward-looking
statements&#148; within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors which could cause actual results to
differ materially from future results expressed or implied by such
forward-looking statements. We refer you to the Company&#146;s filings with the
U.S. Securities and Exchange Commission and Canadian securities regulatory
authorities for a discussion of the various factors that may affect the
Company&#146;s future results.</I></FONT> </P>

<div align="justify"><font size="2">
  <!-- MARKER FORMAT-SHEET="Left Head Underline" -->
  </font>
</div>
<P ALIGN="justify"><FONT size="2" FACE="Times New Roman, Times, Serif"><U>Information
for shareholders</U></FONT></P>

<div align="justify"><font size="2">Gildan  Activewear  Inc. will hold a conference  call to discuss these results today at 10:00 AM Eastern Time.  Interested  parties can
  join the call by dialling 1-800-474-8920. The conference call can also be accessed via live webcast at <U>www.gildan.com</U>
  <!-- MARKER FORMAT-SHEET="Para Flush" -->
  </font>
</div>
<P ALIGN="justify"><FONT size="2" FACE="Times New Roman, Times, Serif">If you
are unable to call in at this time, a replay of the conference call will be
available by dialling 1-888-203-1112 and entering passcode 296686, until
December 11. Concurrently, the conference call will be available on the Investor
Relations section of Gildan&#146;s website, for 30 days.</FONT> </P>

                                                                <div align="center">
                                                                  <p><font size="2">- 30 -
</font></p>
                                                                  <HR color=gray noShade SIZE=3>
                                                                  <p><FONT FACE="Times New Roman, Times, Serif"><B><font size="4">Gildan Activewear Inc.</font></B><FONT SIZE="2"><B><br>
                                                                  </B></FONT><B>                                                                          <font size="2">Consolidated Statements of Earnings</font></B></FONT><br>
<font size="1">(In thousands of Canadian dollars, except per share data) </font></p>
<font size="2"></p></font>
                                                                  <TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="95%">
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TH COLSPAN="3" class="style7"><font size="1"></font></TH>
                                                                      <TH COLSPAN="6"><font size="1">Three months ended</font></TH>
                                                                      <TH COLSPAN="6" class="style7"><font size="1">Twelve months ended </font></TH>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TH COLSPAN="3" class="style7"><font size="1"></font></TH>
                                                                      <TH COLSPAN="3"><font size="1"><strong>October 5, 2003<br>

                                                                      </strong>
                                                                      </font>
                                                                        <HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TH>
                                                                      <TH COLSPAN="3"><font size="1"><strong>September 29, 2002 <br>
                                                                        </strong> </font>                                                                        <HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TH>
                                                                      <TH COLSPAN="3"><font size="1"><strong>October 5, 2003<br>
                                                                        </strong> </font>                                                                        <HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TH>
                                                                      <TH COLSPAN="3"><font size="1"><strong>September 29, 2002<br>
                                                                        </strong> </font>                                                                        <HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TH>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TH COLSPAN="3" class="style7"><font size="1"></font></TH>
                                                                      <TH COLSPAN="3"><font size="1">(unaudited)</font></TH>
                                                                      <TH COLSPAN="3"><font size="1">(unaudited)</font></TH>
                                                                      <TH COLSPAN="3"><font size="1">(audited) </font></TH>
                                                                      <TH COLSPAN="3"><font size="1"><br>
      (audited)</font></TH>
                                                                    </TR>
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                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD WIDTH="34%" ALIGN="LEFT" class="style7"><font size="2"><strong>Sales</strong></font></TD>
                                                                      <TD WIDTH="0%" ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD WIDTH="1%" ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD WIDTH="1%" ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD WIDTH="10%" ALIGN="RIGHT" class="style7"><font size="2"><strong> 150,764</strong></font></TD>
                                                                      <TD WIDTH="6%" ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD WIDTH="1%" ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD WIDTH="11%" ALIGN="RIGHT" class="style7"><font size="2"><strong> 159,921</strong></font></TD>
                                                                      <TD WIDTH="6%" ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD WIDTH="1%" ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD WIDTH="9%" ALIGN="RIGHT" class="style7"><font size="2"><strong> 630,139</strong></font></TD>
                                                                      <TD WIDTH="5%" ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD WIDTH="1%" ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD WIDTH="9%" ALIGN="RIGHT" class="style7"><font size="2"><strong> 600,660</strong></font></TD>
                                                                      <TD WIDTH="5%" ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">Cost of sales</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">104,865</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">115,011</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">440,294</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">431,996</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="5" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="5" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 NOSHADE COLOR=BLACK></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Gross profit </strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>45,899</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>44,910</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>189,845</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>168,664</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">Selling, general and administrative expenses</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">15,817</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">15,506</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">71,153</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">63,926</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="5" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="5" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 NOSHADE COLOR=BLACK></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Earnings before interest, income taxes,</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>depreciation and amortization (EBITDA)</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>30,082</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>29,404</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>118,692</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>104,738</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">Depreciation and amortization</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">6,587</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">4,896</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">23,615</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">17,592</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">Interest expense</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">2,106</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">2,964</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">9,463</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">13,342</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="5" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="5" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 NOSHADE COLOR=BLACK></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Earnings before income taxes</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>21,389</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>21,544</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>85,614</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>73,804</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">Income taxes</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">1,625</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">1,982</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">8,342</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">7,312</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Net earnings</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 19,764</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 19,562</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 77,272</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 66,492</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="5" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="5" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 NOSHADE COLOR=BLACK></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Basic EPS</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canadian $</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 0.67</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 0.68</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 2.64</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 2.33</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US $ (1)</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 0.48</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 0.44</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 1.82</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 1.49</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Diluted EPS</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canadian $</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 0.66</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 0.66</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 2.60</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 2.26</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US $ (1)</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 0.48</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 0.43</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 1.79</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 1.45</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Weighted average number of shares outstanding<br>
                                                                      (in thousands) </strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>29,478</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>28,807</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>29,242</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>28,491</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>29,808</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>29,540</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>29,726</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>29,362</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                  </TABLE>
                                                                  <P ALIGN="LEFT" class="style10"><FONT size="1" FACE="Times New Roman, Times, Serif">(1) The U.S. dollar earnings per share are based on the Canadian GAAP results converted at the average exchange rates for the respective periods.</FONT> </P>
                                                                  <font size="1">
                                                                  <!-- MARKER FORMAT-SHEET="Para" -->
                                                                  </font>
                                                                  <P ALIGN="LEFT" class="style10"><FONT size="1" FACE="Times New Roman, Times, Serif">(2) Certain prior period figures have been reclassified to conform with the basis of presentation adopted in the current period.</FONT> </P>
                                                                  <p>&nbsp;</p>
                                                                  <HR color=gray noShade SIZE=3>
                                                                  <div align="center" class="style8">
                                                                    <p><FONT FACE="Times New Roman, Times, Serif"><B><font size="4">Gildan Activewear Inc.</font><br>
                                                                      </B></FONT> <font size="2"><strong>Consolidated Statements of Cash Flows </strong></font><font size="2"><br>
    (In thousands of Canadian dollars) </font></p>
                                                                    <p align="left">&nbsp; </p>
                                                                  </div>
                                                                  <TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="95%">
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TH COLSPAN="3" class="style7"><font size="1"></font></TH>
                                                                      <TH COLSPAN="6"><font size="1">Three months ended</font></TH>
                                                                      <TH COLSPAN="6" class="style7"><font size="1">Twelve months ended </font></TH>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TH COLSPAN="3" class="style7"><font size="1"></font></TH>
                                                                      <TH COLSPAN="3"><font size="1">October 5, 2003<br>
                                                                         </font>
                                                                        <HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TH>
                                                                      <TH COLSPAN="3"><font size="1"><strong>September 29, 2002 <br>
                                                                        </strong></font>
                                                                        <HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TH>
                                                                      <TH COLSPAN="3"><font size="1"><strong>October 5, 2003<br>
                                                                        </strong></font>
                                                                        <HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TH>
                                                                      <TH COLSPAN="3"><font size="1"><strong>September 29, 2002<br>
                                                                        </strong></font>
                                                                        <HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TH>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TH COLSPAN="3" class="style7"><font size="1"></font></TH>
                                                                      <TH COLSPAN="3" class="style7"><font size="1">(unaudited)</font></TH>
                                                                      <TH COLSPAN="3" class="style7"><font size="1">(unaudited)</font></TH>
                                                                      <TH COLSPAN="3" class="style7"><font size="1">(audited)</font></TH>
                                                                      <TH COLSPAN="3" class="style7"><font size="1">(audited)</font></TH>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD width="32%" ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD width="1%" ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD width="10%" ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD width="8%" ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD width="1%" ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD width="10%" ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD width="7%" ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD width="1%" ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD width="8%" ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD width="6%" ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD width="1%" ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD width="10%" ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD width="5%" ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Cash flows from operating activities:</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;Net earnings</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">19,764</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">19,562</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">77,272</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">66,492</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;Adjustments for:</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">6,587</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">4,896</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">23,615</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">17,592</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Future income taxes</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">1,671</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">3,427</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">6,116</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">5,013</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(1,053</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">2,411</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">277</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">4,392</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">26,969</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">30,296</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">107,280</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">93,489</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">Net changes in non-cash working capital balances:</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">16,299</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">18,905</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(11,224</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">38,170</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(12,734</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">25,111</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(25,640</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">65,380</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and deposits</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">795</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">1,679</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(1,649</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">599</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">5,309</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(2,983</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">19,073</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(21,026</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(136</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(1,254</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">2,295</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">1,488</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>36,502</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>71,754</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>90,135</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>178,100</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Cash flows from financing activities:</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;Decrease in revolving bank loan</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">--</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">--</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">--</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(35,083</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;Repayment of capital leases and other long-term</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;debt</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(1,577</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(7,937</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(6,419</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(11,554</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;Increase in unsecured debt</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">240</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">459</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">391</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">2,974</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;Proceeds from the issuance of shares</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">1,602</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">1,481</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">6,639</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">4,564</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;Increase in deferred financing charges</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">--</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(882</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(41</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(1,086</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>265</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>(6,879</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>)</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>570</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>(40,185</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>)</strong></font></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Cash flows from investing activities:</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;Purchase of fixed assets, net of disposals</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(12,460</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(17,996</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(58,577</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(65,765</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;&nbsp;&nbsp;(Increase) decrease in other assets</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(380</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(1,517</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">6</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">(1,395</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">)</font></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>(12,840</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>)</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>(19,513</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>)</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>(58,571</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>)</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>(67,160</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>)</strong></font></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Effect of exchange rate changes on cash</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>and cash equivalents</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>426</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>963</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>(10,179</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>)</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>150</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Net increase in cash and cash equivalents<br>
                                                                      </strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">&nbsp;</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">&nbsp;</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">&nbsp;</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2">&nbsp;</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2">&nbsp;</font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><strong><font size="2">during the period</font></strong>  </TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>24,353</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>46,325</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>21,955</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>70,905</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Cash and cash equivalents, beginning of period</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 68,507</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 24,580</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 70,905</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> -- </strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7"><font size="2"><strong>Cash and cash equivalents, end of period</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 92,860</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 70,905</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 92,860</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style7"><font size="2"><strong> 70,905</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD colspan="2" ALIGN="RIGHT" class="style7"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style7">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style7">&nbsp;</TD>
                                                                    </TR>
                                                                  </TABLE>
                                                                  <p align="left" class="style7">&nbsp;</p>
                                                                  <HR color=gray noShade SIZE=3>
                                                                  <div align="center">
                                                                    <p class="style2"> <font size="4"><strong>Gildan Activewear Inc.</strong></font><br>
                                                                        <strong><font size="2">Consolidated Balance Sheets </font></strong><br>
                                                                        <font size="2">(in thousands of Canadian dollars) </font></p>
                                                                    <p class="style8">&nbsp; </p>
                                                                  </div>
                                                                  <TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="98%">
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TH COLSPAN="3" class="style2"></TH>
                                                                      <TH COLSPAN="3" class="style2"></TH>
                                                                      <TH COLSPAN="3" class="style2"></TH>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><div align="center"><font size="1">October 5, 2003 </font></div>
                                                                          <HR align="center" WIDTH=95% SIZE=1 NOSHADE COLOR=BLACK>
                                                                      </TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2"><br>
                                                                      </font></TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><div align="center"><font size="1">September 29, 2002 </font></div>
                                                                          <HR align="center" WIDTH=95% SIZE=1 NOSHADE COLOR=BLACK>
                                                                      </TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD WIDTH="66%" ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD WIDTH="1%" ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD WIDTH="1%" ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD WIDTH="1%" ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD WIDTH="13%" ALIGN="RIGHT" class="style2"><font size="1">(audited)</font></TD>
                                                                      <TD WIDTH="2%" ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD WIDTH="1%" ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD WIDTH="15%" ALIGN="RIGHT" class="style2"><font size="1">(audited)</font></TD>
                                                                      <TD WIDTH="0%" ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2"><strong>Current assets:</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">$</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2"> 92,860</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">$</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2"> 70,905</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">86,057</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">87,746</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">138,611</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">112,971</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and deposits</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">5,155</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">3,657</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp; Future income taxes</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">6,270</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">5,028</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD colspan="4" ALIGN="RIGHT" class="style2"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">328,953</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">280,307</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2"><strong>Fixed assets</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">241,524</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">209,247</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2"><strong>Other assets</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">4,928</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">7,085</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD colspan="4" ALIGN="RIGHT" class="style2"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2"><strong>Total assets</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2"><strong> 575,405</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2"><strong> 496,639</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD colspan="4" ALIGN="RIGHT" class="style2"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2"><strong>Current liabilities:</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">$</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2"> 90,098</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">$</font></TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2"> 82,168</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">5,235</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">3,063</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">26,089</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">6,249</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD colspan="4" ALIGN="RIGHT" class="style2"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">121,422</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">91,480</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2"><strong>Long-term debt</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">72,421</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">114,866</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2"><strong>Future income taxes</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">27,743</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">20,385</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2"><strong>Shareholders' equity:</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share capital</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">111,564</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">104,925</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contributed surplus</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">323</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">323</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">241,932</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">164,660</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD colspan="4" ALIGN="RIGHT" class="style2"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">353,819</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2">269,908</font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD colspan="4" ALIGN="RIGHT" class="style2"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2"><font size="2"><strong>Total liabilities and shareholders' equity</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2"><strong> 575,405</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2"><strong>$</strong></font></TD>
                                                                      <TD ALIGN="RIGHT" class="style2"><font size="2"><strong> 496,639</strong></font></TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD colspan="4" ALIGN="RIGHT" class="style2"><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE>
                                                                      </TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                    <TR VALIGN="BOTTOM">
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="RIGHT" class="style2">&nbsp;</TD>
                                                                      <TD ALIGN="LEFT" class="style2">&nbsp;</TD>
                                                                    </TR>
                                                                  </TABLE>
                                                                  <p align="left">&nbsp;</p>
                                                                  <HR color=gray noShade SIZE=3>
                                                                  <p>&nbsp;</p>
                                                                  <p>&nbsp;</p>
                                                                  <P>
                                                                  <P align=center><FONT face="Times New Roman, Times, serif"
size=2><STRONG>SIGNATURE</STRONG></FONT>
                                                                  <P align=left>
                                                                  <P align="left"><FONT face="Times New Roman, Times, serif"
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securitiecs Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT>
                                                                  <P>
                                                                  <P>
                                                                  <P>
                                                                  <DIV align=right>
                                                                    <TABLE cellSpacing=0 cellPadding=0 width="50%" border=0>
                                                                      <TR>
                                                                        <TD><font size="2"><STRONG><FONT face="Times New Roman, Times, serif">GILDAN ACTIVEWEAR INC. </FONT></STRONG></font></TD>
                                                                      </TR>
                                                                      <TR>
                                                                        <TD>&nbsp;</TD>
                                                                      </TR>
                                                                      <TR>
                                                                        <TD>&nbsp;</TD>
                                                                      </TR>
                                                                      <TR>
                                                                        <TD>&nbsp;</TD>
                                                                      </TR>
                                                                      <TR>
                                                                        <TD><font size="2">(Signed) St&eacute;phane Lemay </font>
                                                                          <HR noShade SIZE=1>
                                                                      </TR>
                                                                      <TR>
                                                                        <TD><FONT face="Times New Roman, Times, serif" size=2>St&eacute;phane Lemay </FONT></TD>
                                                                      </TR>
                                                                      <TR>
                                                                        <TD><FONT face="Times New Roman, Times, serif" size=2>Vice-President, Public and Legal Affairs </FONT></TD>
                                                                      </TR>
                                                                      <TR>
                                                                        <TD>&nbsp;</TD>
                                                                      </TR>
                                                                    </TABLE>
                                                                  </DIV>
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                                                                    <TABLE width="50%" border=0 cellPadding=0 cellSpacing=0>
                                                                      <TR>
                                                                        <TD><font size="2"><strong>Date</strong> December 4, 2003 </font></TD>
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                                                                        <TD>&nbsp;</TD>
                                                                      </TR>
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`
end

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
