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<SEC-DOCUMENT>0001204459-09-002334.txt : 20091210
<SEC-HEADER>0001204459-09-002334.hdr.sgml : 20091210
<ACCEPTANCE-DATETIME>20091210170606
ACCESSION NUMBER:		0001204459-09-002334
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20091210
FILED AS OF DATE:		20091210
DATE AS OF CHANGE:		20091210

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:			0930

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14830
		FILM NUMBER:		091234328

	BUSINESS ADDRESS:	
		STREET 1:		600 BOULEVARD DE MAISONNEUVE OUEST
		STREET 2:		33RD FLOOR
		CITY:			MONTREAL
		STATE:			A8
		ZIP:			H3A 3J2
		BUSINESS PHONE:		5147352023

	MAIL ADDRESS:	
		STREET 1:		600 BOULEVARD DE MAISONNEUVE OUEST
		STREET 2:		33RD FLOOR
		CITY:			MONTREAL
		STATE:			A8
		ZIP:			H3A 3J2

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GILDAN ACTIVEWEAR INC
		DATE OF NAME CHANGE:	19980515
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>gildan121009form6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>

<head>

<title>Gildan Activewear Inc.: Form 6-K - Prepared by TNT Filings Inc.</title>
</head>


<html>

<body>

<div style="border-top-style: solid; border-top-width: 1; padding-top: 1">
  <hr color="#000000" size="5">
</div>
<font face="Times New Roman" size="5"><b>
<p align="center">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</b> <br>
</font><font face="Times New Roman" size="2"><b>Washington, DC 20549</b> </p>
</font><font face="Times New Roman" size="5"><b>
<p align="center">Form 6-K</b> </p>
</font><font face="Times New Roman" size="2"><b>
<p align="center">Report of Foreign Private Issuer <br>
Pursuant to Rule 13a-16 or 15d-16 of<br>
&nbsp;the Securities Exchange Act of 1934</b> </p>
<div align="center">
  <center>
  <table id="AutoNumber1" style="border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="50%" border="0">
    <tr>
      <td width="50%" nowrap>
      <p align="center"><font face="Times New Roman" size="2">For the month of:
      <b>December 2009</b></font></td>
      <td width="50%" nowrap>
      <p align="center"><font face="Times New Roman" size="2">&nbsp;Commission File
      Number: <b>1-14830 </b> </font></td>
    </tr>
  </table>
  </center>
</div>
<font face="Times New Roman" size="6"><b>
<p align="center">GILDAN ACTIVEWEAR INC.</b> <br>
</font>(<i>Translation of Registrant's name into English</i>) </p>
<p align="center"><b>600 de Maisonneuve Boulevard West<br>
33rd Floor<br>
Montr&#233;al, Qu&#233;bec <br>
Canada H3A 3J2</b><br>
(<i>Address of Principal Executive Offices</i>) </p>
<p align="left">Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F: </p>
<div align="center">
  <center>
  <table id="AutoNumber1" style="border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="50%" border="0">
    <tr>
      <td align="middle" width="50%"><font face="Times New Roman" size="2">Form
      20-F </font><font face="Wingdings 2" size="3">&#163;</font></td>
      <td align="middle" width="50%"><font face="Times New Roman" size="2">Form
      40-F </font><font face="Wingdings 2" size="3">Q</font></td>
    </tr>
  </table>
  </center>
</div>
<p>Indicate by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): <font face="Wingdings 2" size="3">
&#163;</font></p>
<p>Indicate by check mark if the registrant is submitting the form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7): <font face="Wingdings 2" size="3">
&#163;</font></p>
<p>Indicate by check mark whether by furnishing the information contained in
this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: </p>
<div align="center">
  <center>
  <table id="AutoNumber2" style="border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="50%" border="0">
    <tr>
      <td align="middle" width="50%"><font face="Times New Roman" size="2">Yes
      </font><font face="Wingdings 2" size="3">&#163;</font></td>
      <td align="middle" width="50%"><font face="Times New Roman" size="2">No
      </font><font face="Wingdings 2" size="3">Q</font></td>
    </tr>
  </table>
  </center>
</div>
<p>If &quot;Yes&quot; is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): N/A </p>
<hr style="page-break-after: always" align="center" width="100%" color="black" noShade SIZE="5"><b>
<p align="center">SIGNATURES</b> </p>
<p style="text-indent: 30px" align="justify">Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized. </p>
<table style="font-size: 10pt; border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="100%" border="0">
  <tr>
    <td style="font-size: 10pt" vAlign="top" align="left" width="50%">&nbsp;</td>
    <td style="font-size: 10pt" align="left" colSpan="2"><b>GILDAN ACTIVEWEAR
    INC.</b></td>
  </tr>
  <tr>
    <td style="font-size: 10pt" align="left" width="50%">&nbsp;</td>
    <td style="font-size: 10pt" vAlign="top" width="1%">&nbsp;</td>
    <td style="font-size: 10pt; border-bottom: medium none #000000" align="left" width="49%">
    &nbsp;</td>
  </tr>
  <tr>
    <td style="font-size: 10pt" align="left" width="50%">Date: December 10, 2009</td>
    <td style="font-size: 10pt; border-right-style:none; border-right-width:medium" vAlign="top" width="1%">By:&nbsp;&nbsp;</td>
    <td style="font-size: 10pt; border-top: medium none; border-bottom: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium" align="left" width="49%">
    <u>/s/ Lindsay Matthews&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </u></td>
  </tr>
  <tr>
    <td style="font-size: 10pt" align="left" width="50%">&nbsp;</td>
    <td style="font-size: 10pt; border-right-style:none; border-right-width:medium" width="1%">&nbsp;</td>
    <td style="border-style:none; border-width:medium; font-size: 10pt" vAlign="top" width="49%">
    <p style="margin-top: 0px; margin-bottom: 0px">Name:&nbsp;&nbsp;</p>
    <p style="margin-left: 26pt; margin-top: -11pt; margin-bottom: 0px">
    <font face="Times New Roman" size="2">Lindsay Matthews&nbsp;</font></td>
  </tr>
  <tr>
    <td style="font-size: 10pt" align="left" width="50%">&nbsp;</td>
    <td style="font-size: 10pt" width="1%">&nbsp;</td>
    <td style="font-size: 10pt; border-top-style:none; border-top-width:medium" vAlign="top" width="49%">
    <p style="margin-top: 0px; margin-bottom: 0px">Title:&nbsp;&nbsp;</p>
    <p style="margin-left: 26pt; margin-top: -11pt; margin-bottom: 0px">
    <font face="Times New Roman" size="2">Director, Legal Services and
    Corporate Secretary&nbsp;</font></td>
  </tr>
</table>
<p>&nbsp;</p>
<hr style="page-break-after: always" align="center" width="100%" color="black" noShade SIZE="5"><b>
<p align="center">EXHIBIT INDEX</b> </p>
<table style="font-size: 10pt; border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="100%" border="0">
  <tr style="font-size: 8pt" vAlign="bottom">
    <td style="border-bottom: 1px solid #000000" noWrap align="left" height="16" width="10%">
    <font face="Times New Roman" size="2">Exhibit</font></td>
    <td height="16"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 1px solid #000000" noWrap align="middle" height="16">
    <p align="left"><font face="Times New Roman" size="2">Description of
    Exhibit</font></td>
  </tr>
  <tr vAlign="bottom">
    <td vAlign="top" height="1" width="10%"></td>
    <td vAlign="top" height="1"></td>
    <td vAlign="top" height="1"></td>
  </tr>
  <tr vAlign="bottom">
    <td vAlign="center" height="15" width="10%"></td>
    <td vAlign="center" height="15"></td>
    <td vAlign="center" height="15"></td>
  </tr>
  <tr vAlign="bottom">
    <td vAlign="top" bgColor="#E6EFFF" height="15" width="10%">
    <a style="text-decoration: none" href="gildan121009exh991.htm">99.1</a></td>
    <td vAlign="top" bgColor="#E6EFFF" height="15">&nbsp;</td>
    <td vAlign="top" bgColor="#E6EFFF" height="15">
    <a style="text-decoration: none" href="gildan121009exh991.htm">Press Release: Gildan Activewear Announces Fiscal 2009 Fourth Quarter and
    Full Year Results </a></td>
  </tr>
  </table>
<p>&nbsp;</p>
<hr color="#000000" SIZE="5"></font>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>gildan121009exh991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>



<HTML>
<HEAD>
   <TITLE>Gildan Activewear Inc.: Exhibit 99.1 - Prepared by TNT Filings Inc.</TITLE>

</HEAD>

<BODY style="font-size:10pt;">

<div style="border-top-style: solid; border-top-width: 1; padding-top: 1">

<HR noshade size=3 color="black">
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<p align="right"><b>Exhibit 99.1<A name=page_1></A>
</b></p>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="AutoNumber1">
  <tr>
    <td width="50%"><img border="0" src="gildan1.jpg" width="186" height="48"></td>
    <td width="50%">
    <p align="right"><font size="5">News Release</font></td>
  </tr>
</table>
<p>
<BR>
</p>
<P align=justify><B>For immediate release</B><BR></P>
<P align=center><B><U><FONT size=3>Gildan Activewear Announces Fiscal 2009
Fourth Quarter and Full Year Results</FONT></U></B><B> <BR></B><B>&#150; Fourth
Quarter EPS of U.S. $0.35 After Negative Impact of U.S. $0.07 Charge for
Distributor Inventory Devaluation&nbsp;&#150;<BR>&#150; </B><B>Further Market Share Gains
in U.S. Wholesale Distributor Channel&nbsp;&#150;<BR>&#150; </B><STRONG>Free Cash Flow of
U.S. $113 million in Quarter &#150;</STRONG><BR><B>&#150; Company Announces New Retail
Programs for Fiscal 2010 &#150;&nbsp;<BR></B><B>&#150; </B><STRONG>Business Outlook and
Assumptions Provided for Fiscal 2010 &#150; </STRONG><BR><STRONG>&#150;
</STRONG><STRONG>Company Appoints New Independent Board Members &#150; </STRONG></P>
<P align="justify"><B>Montr&#233;al, Thursday, December 10, 2009 </B>&#150; Gildan Activewear Inc. (GIL;
TSX and NYSE) today announced its financial results for the fourth quarter of
its 2009 fiscal year as well as for the full fiscal year. The Company also
updated its outlook and business plans for fiscal 2010, including the
announcement of new retail programs which Gildan has been awarded. </P>
<P align=justify><U>Fourth Quarter Sales and Earnings</U><BR></P>
<P align=justify>Gildan reported net earnings of U.S. $42.4 million and diluted
EPS of U.S. $0.35 for its fourth fiscal quarter ended October 4, 2009, after
reflecting a charge of U.S. $8.9 million or U.S. $0.07 per share for a special
distributor inventory devaluation discount, as described more fully below. Net
earnings in the fourth quarter of fiscal 2008 amounted to U.S. $21.8 million, or
U.S. $0.18 per share on a diluted basis. Before a special income tax charge of
U.S. $26.9 million or U.S. $0.22 per share recorded in the fourth quarter of
last year, adjusted net earnings and diluted EPS in the fourth quarter of fiscal
2008 amounted to U.S. $49.7 million or U.S. $0.41, respectively.</P>
<P align=justify>Adjusted EPS in the fourth quarter of fiscal 2009, before
reflecting the impact of the special devaluation discount, increased by U.S.
$0.01 compared to adjusted EPS in the fourth quarter of fiscal 2008, before
reflecting the special income tax charge. The positive EPS impact of increased
manufacturing efficiencies, favourable product-mix and lower selling, general
and administrative expenses was essentially offset by lower activewear selling
prices, lower unit sales, and the impact of planned production downtime taken in
the fourth quarter of fiscal 2009.</P>
<P align=justify>Early in the first quarter of fiscal 2010, the Company reduced
gross selling prices for the majority of its activewear products in the U.S.
wholesale distributor channel, and applied the benefit of the selling price
reduction to inventories held by distributors through a special inventory
devaluation discount. Net sales and gross margins in the fourth quarter of
fiscal 2009 reflected both the significant negative impact of the short-term
promotions in the fourth quarter as well as the impact of the special discount,
which is accounted for as an adjustment to sales in the fourth quarter. Gross
margins in the first quarter of fiscal 2010 will reflect the impact of the reduction in gross selling prices, but the negative impact in
the first quarter is expected to be partially offset by a reduction in
short-term promotions. The Company believes that the approach it has taken to
pricing is enhancing the ability of its wholesale distributors to plan their
business and helping to stimulate screenprinter demand for Gildan products. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_2></A>
<P align=justify>Net sales in the fourth quarter of fiscal 2009 amounted to U.S.
$301.7 million, down 7.1% from U.S. $324.7 million in the fourth quarter of last
year. Sales of activewear and underwear were U.S. $240.8 million, down 4.8% from
U.S. $253.0 million last year, and sales of socks were U.S. $60.9 million, down
15.1% from U.S. $71.7 million last year.</P>
<P align=justify>The decrease in sales of activewear and underwear was due to
lower unit selling prices and a 1.3% reduction in unit sales volumes, as a
result of weaker economic conditions, as well as the impact of the special
discount and currency changes, partially offset by more favourable activewear
product-mix. The reduction in unit sales volumes of activewear and underwear in
the fourth quarter was due to a 12.3% decline in overall industry unit shipments
from U.S. distributors to U.S. screenprinters, largely offset by increased
market share in all product categories, as well as increased shipments to
international and other screenprint markets. </P>
<P align=justify>The table below summarizes data from the S.T.A.R.S. report
produced by ACNielsen Market Decisions, which tracks unit volume shipments from
U.S. wholesale distributors to U.S. screenprinters, for the calendar quarter
ended September 30, 2009. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 8pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left style="border-top-style: solid; border-top-width: 2"><FONT size=2>&nbsp; </FONT></TD>
    <TD align=center width="26%" colSpan=2 style="border-top-style: solid; border-top-width: 2"><FONT size=2><B>Three months
      ended</B> </FONT></TD>
    <TD align=center width="26%" colSpan=2 style="border-top-style: solid; border-top-width: 2"><FONT size=2><B>Three months
      ended</B> </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left><FONT size=2>&nbsp; </FONT></TD>
    <TD align=center width="26%" colSpan=2><FONT size=2><B>September 30,</B>
      </FONT></TD>
    <TD align=center width="26%" colSpan=2><FONT size=2><B>September 30,</B>
      </FONT></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT
      size=2>&nbsp; </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="26%"
    colSpan=2><FONT size=2><B>2009 vs. 2008</B> </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="13%"><FONT size=2><B>2009</B> </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="13%"><FONT size=2><B>2008</B> </FONT></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT
      size=2>&nbsp; </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="26%"
    colSpan=2><FONT size=2><B>Unit Growth</B> </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="26%"
    colSpan=2><FONT size=2><B>Market Share</B> </FONT></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT
      size=2>&nbsp; </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="13%"><FONT size=2><B>Gildan</B> </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="13%"><FONT size=2><B>Industry</B> </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="26%"
    colSpan=2><FONT size=2><B>Gildan</B> </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><FONT size=2>All products </FONT></TD>
    <TD align=center width="13%" bgColor=#e6efff><FONT size=2><B>(6.0)%</B>
      </FONT></TD>
    <TD align=center width="13%" bgColor=#e6efff><FONT size=2>(12.3)%
    </FONT></TD>
    <TD align=center width="13%" bgColor=#e6efff><FONT size=2><B>57.1%</B>
      </FONT></TD>
    <TD align=center width="13%" bgColor=#e6efff><FONT size=2>53.4%
  </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left><FONT size=2>T-shirts </FONT></TD>
    <TD align=center width="13%"><FONT size=2><B>(6.6)%</B> </FONT></TD>
    <TD align=center width="13%"><FONT size=2>(12.3)% </FONT></TD>
    <TD align=center width="13%"><FONT size=2><B>57.7%</B> </FONT></TD>
    <TD align=center width="13%"><FONT size=2>54.4% </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><FONT size=2>Fleece </FONT></TD>
    <TD align=center width="13%" bgColor=#e6efff><FONT size=2><B>2.1%</B>
      </FONT></TD>
    <TD align=center width="13%" bgColor=#e6efff><FONT size=2>(10.7)%
    </FONT></TD>
    <TD align=center width="13%" bgColor=#e6efff><FONT size=2><B>56.9%</B>
      </FONT></TD>
    <TD align=center width="13%" bgColor=#e6efff><FONT size=2>49.9%
  </FONT></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=left><FONT size=2>Sport
      shirts </FONT></TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=center
      width="13%"><FONT size=2><B>(0.5)%</B> </FONT></TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=center
      width="13%"><FONT size=2>(15.4)% </FONT></TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=center
      width="13%"><FONT size=2><B>44.2%</B> </FONT></TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=center
      width="13%"><FONT size=2>37.8% </FONT></TD></TR></TABLE>
<P align=justify>Overall inventories in the U.S. wholesale distributor channel
at September 30, 2009 were down by 22.2% compared with a year ago, and Gildan&#146;s
share of distributor inventories was 50.1%, compared with its market share of
57.1% in the fourth quarter as shown above. </P>
<P align=justify>The reduction in sales of socks in the fourth quarter compared
to a year ago was due to the discontinuance of unprofitable sock programs and
inventory fluctuations at the retailer level. The impact of these factors was
largely offset by double-digit increases in the sell-through to consumers of
continuing programs with major mass-retailer customers. New mass retailer
private label sock brands which have been introduced during fiscal 2009
performed strongly in the fourth quarter and gained market share.</P>
<P align=justify>Gross margins in the fourth quarter were 25.7%, including the
negative impact of the special distributor inventory devaluation discount.
Before reflecting the impact of this charge, gross margins for the quarter were
28.7%, compared to 26.8% in the fourth quarter of fiscal 2008. The improvement
in gross margins before the special discount was primarily due to increased
manufacturing efficiencies, including lower cotton and energy costs, and more
favourable activewear product-mix, partially offset by significantly
increased promotional discounts for activewear in the U.S. distributor channel, compared with a year ago. Gross margins in the fourth quarter of fiscal 2009 were also impacted by production downtime, which reduced margins by approximately 1.6%. </P>
<P align=center>2<BR></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>



<A name="page_3"></A>

<P align="justify">
Selling, general and administrative expenses in the fourth quarter were U.S. &#36;34.1 million, or 11.3% of sales, compared to U.S. &#36;36.7 million, or 11.3% of sales in the fourth quarter of fiscal 2008. The reduction in SG&amp;A expenses was
primarily due to efficiencies and savings achieved in the management of distribution expenses, as well as the impact of the lower-valued Canadian dollar on corporate administrative expenses, partially offset by higher depreciation expenses and an
increase in provisions for doubtful accounts receivable exposures.  </P>
<P align="justify">
<U>Full Year Sales and Earnings</U><BR>
</P>
<P align="justify">
Net sales for fiscal 2009 were U.S. &#36;1,038.3 million, down 16.9% from fiscal 2008 due to a 10.2% decline in activewear unit volumes, unfavourable activewear product-mix, lower activewear net selling prices, a 17.0% decrease in sock sales
primarily due to the elimination of unprofitable sock product-lines during fiscal 2008, and the negative impact of the stronger U.S. dollar on Canadian and international activewear sales. The lower unit sales volumes for activewear were primarily
due to the decline in overall industry unit shipments by U.S. wholesale distributors to screenprinters and inventory reductions by U.S. wholesale distributors, which more than offset Gildan&#146;s market share gains in the U.S. screenprint channel,
and increased penetration of other target screenprint markets.</P>
<P align="justify">
Net earnings for fiscal 2009 were U.S. &#36;95.3 million, or U.S. &#36;0.79 per share on a diluted basis, compared with net earnings of U.S. &#36;146.4<B> </B>million or U.S. &#36;1.20<B> </B>per share for the same period last year. Before
restructuring charges in both years, adjusted net earnings were U.S. &#36;99.7 million, or U.S. &#36;0.82 per share, compared to U.S. &#36;151.3<B> </B>million, or U.S. &#36;1.24<B> </B>per share, for the same period last year. The reduction in net
earnings and EPS compared to fiscal 2008 was due to significantly lower activewear unit sales volumes and gross margins, partially offset by lower SG&amp;A and financial expenses and the non-recurrence of an income tax charge in the fourth quarter
of 2008. </P>
<P align="justify">
<U>Cash Flows and Financial Position</U><BR>
</P>
<P align="justify">
The Company generated free cash flow of U.S. &#36;112.9 million in the fourth quarter. Inventories in the fourth quarter were reduced by U.S. &#36;37.7 million, and the Company ended the fiscal year with inventories of U.S. &#36;301.9 million,
compared with U.S. &#36;316.2 million at the end of fiscal 2008. The Company believes that its current level of finished goods inventories is appropriate in the context of current market conditions, and is not currently planning production downtime
in the first quarter of fiscal 2010, other than the normal holiday shutdown over the Christmas period. Accounts receivable collections were further improved during the fourth quarter. Days of sales outstanding in accounts receivable at the end of
the fiscal year amounted to 45 days, compared to 52 days at the end of fiscal 2008. The Company ended the fiscal year with cash and cash equivalents of U.S. &#36;99.7 million, and its U.S. &#36;400 million bank credit facility was unutilized. </P>
<P align="center">
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<P align="justify">
<U>New Retail Programs for Fiscal 2010</U><BR>
</P>
<P align="justify">
The Company has continued to build on the successful performance of its private label sock programs and has been awarded a major strategic underwear program as well as a smaller underwear program and three further sock programs, which are all
expected to begin shipment in the second quarter of fiscal 2010. The Company is currently in active discussions to secure further opportunities with mass retailers for new programs during fiscal 2010. The annualized full year incremental sales
revenue from the additional new mass-market retail programs already obtained by the Company in fiscal 2010 is currently estimated to be approximately U.S. &#36;70 million. In addition, the Company is continuing to achieve further penetration with
its Gildan branded products in regional retail chains. </P>
<P align="justify">
<U>Fiscal 2010 Outlook and Business Plans</U><BR>
</P>
<P align="justify">
The Company is currently planning for fiscal 2010 on the basis of the continuation of weak macro economic conditions, although it believes that it is in a position to take advantage of any unanticipated improvement in overall industry demand during
fiscal 2010. Based on assuming no growth in industry demand, and without including any further new retail programs which the Company may obtain during fiscal 2010, Gildan expects to achieve unit volume growth of approximately 25% in activewear and
underwear and approximately 5% in socks compared to fiscal 2009, after taking account of the negative impact of the discontinued sock programs. The projected growth in unit sales is due to assumed higher market share in the U.S. wholesale
distributor channel, the assumed non-recurrence of wholesale distributor destocking which occurred during the first half of fiscal 2009, continued penetration of international and other screenprint markets, the impact of the new retail programs
which have been obtained and continued growth in existing retail programs. </P>
<P align="justify">
In order to maintain its market leadership and drive top-line growth, the Company is prepared to continue to price aggressively, in the assumed environment of weak global economic conditions and weak industry demand. Assuming an approximate 5%
decline in selling prices in fiscal 2010 compared to fiscal 2009, and the impact of a higher proportion of underwear in the Company&#146;s product-mix, consolidated net sales in fiscal 2010 are projected to be slightly in excess of U.S. &#36;1.2
billion, up approximately 17% from fiscal 2009. </P>
<P align="justify">
Although gross margins in the fourth quarter of fiscal 2009, before reflecting the impact of the devaluation charge, were 28.7%, and gross margins in the first quarter of fiscal 2010 are expected to be close to the same level, gross margins in the
balance of fiscal 2010 are expected to be negatively impacted by further promotional discounting and by volatility in cotton, energy and other commodity costs. Also, gross margins in the first and fourth quarters of the fiscal year traditionally
benefit from a more favourable seasonal activewear product-mix.  Assuming that net selling prices in the balance of the year are impacted by additional promotional discounting and that the Company covers the balance of its cotton requirements for
fiscal 2010 at current forward rates, the Company is currently projecting that gross margins for the full fiscal year will be approximately 26%. </P>
<P align="justify">
Gildan is projecting capital expenditures of approximately U.S. &#36;130 million in fiscal 2010, compared to U.S. &#36;45 million in fiscal 2009. In November 2009, the Company completed the acquisition of a state-of-the-art distribution centre in
Charleston, S.C., for approximately U.S. &#36;20 million. This facility will be utilized to support the Company&#146;s retail strategy, and is also expected to
generate cost reductions and improved efficiencies as a result of consolidating existing distribution capacity. Other significant capital projects that are planned for fiscal 2010 include the completion of the Rio Nance 4 sock facility, further
textile expansion and energy cost reduction projects, and the purchase of a new office building in Barbados which was not finalized during the fourth quarter of fiscal 2009. </P>
<P align="center">
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<P align="justify">
The Company expects to continue to generate positive free cash flow after capital expenditures in fiscal 2010, and therefore expects to continue to accumulate cash on its balance sheet. During the 2010 fiscal year, the Company intends to conduct an
evaluation of options for the deployment of cash balances not required to finance its organic growth, in order to maximize returns to shareholders. </P>
<P align="justify">
<U>Board Appointments</U><BR>
</P>
<P align="justify">
Gildan also announced today the appointments of George Heller and James R. Scarborough to its Board of Directors. Mr. Heller and Mr. Scarborough have both had successful careers as business leaders in the retail sector spanning over thirty-five
years. Until his retirement in 2006, George Heller served as President and Chief Executive Officer of the Hudson&#146;s Bay Company, Canada&#146;s largest diversified general merchandise retailer. Mr. Heller previously held a number of other senior
positions in the retail industry, including President and Chief Executive Officer of Kmart Canada, President, North America and Europe for Bata Industries Ltd. and Executive Vice-President of Woodwards Department Stores. Mr. Heller also served as
President and Chief Executive Officer of the Victoria Commonwealth Games. James R. Scarborough currently serves as Chairman of the Board of Stage Stores, Inc., a U.S.-based specialty department store retailer that operates over 730 department stores
in thirty-eight states. Mr. Scarborough joined Stage Stores in 2000 as President and Chief Executive Officer, and held this position until his retirement in 2008. Mr. Scarborough previously held other senior positions in the retail sector, including
President and Chief Executive Officer of Busy Body, Inc. and Seattle Lighting Fixtures Co. With the addition of Mr. Heller and Mr. Scarborough, Gildan&#146;s Board of Directors now comprises nine members, of which eight are independent of
management. </P>
<P align="justify">
<U>Disclosure of Outstanding Share Data</U><BR>
</P>
<P align="justify">
As of November 30, 2009, there were 120,970,339<B> </B>common shares issued and outstanding along with 1,503,514 stock options and 951,403 dilutive restricted share units (&#147;Treasury RSUs&#148;) outstanding. Each stock option entitles the holder
to purchase one common share at the end of the vesting period at a pre-determined option price. Each Treasury RSU entitles the holder to receive one common share from treasury at the end of the vesting period, without any monetary consideration
being paid to the Company. However, the vesting of 50% or more of the Treasury RSU grants are dependent upon the financial performance of the Company, relative to a benchmark group of Canadian publicly-listed companies. </P>
<P align="justify">
<U>Information for Shareholders</U><BR>
</P>
<P align="justify">
This release should be read in conjunction with Gildan&#146;s 2009 Annual Management&#146;s Discussion and Analysis (&#147;MD&amp;A&#148;) dated December 9, 2009 and its annual consolidated financial statements for the year ended October 4, 2009
(available later today at <U><FONT color="#0000ff">http://gildan.com/corporate/IR/quarterlyReports.cfm</FONT></U>) which is incorporated by reference in this release, and which
will be filed by Gildan with the Canadian securities regulatory authorities and with the U.S. Securities and Exchange Commission. </P>
<P align="center">
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<P align="justify">
Gildan Activewear Inc. will hold a conference call to discuss these results today at 8:30 AM EST. The conference call can be accessed by dialing 800-261-3417<B> </B>(Canada &amp; U.S.) or 617-614-3673 (international) and entering passcode 98938094,
or by live sound webcast on Gildan's Internet site ("Investor Relations" section) at the following address: <U><FONT color="#0000ff">http://gildan.com/corporate/IR/webcastPresentations.cfm</FONT></U>. If you are unable to participate in the
conference call, a replay will be available starting that same day at 11:30 AM EST by dialing 888-286-8010 (Canada &amp; U.S.) or 617-801-6888 (international) and entering passcode 51896641, until December 17, 2009 at midnight, or by sound web cast
on Gildan's Internet site for 30 days. </P>
<P align="justify">
<U>Profile</U><BR>
</P>
<P align="justify">
Gildan is a vertically-integrated marketer and manufacturer of quality branded basic apparel. The Company is the leading supplier of activewear for the screenprint market in the U.S. and Canada. It is also a leading supplier to this market in
Europe, and is establishing a growing presence in Mexico and the Asia-Pacific region. The Company sells T-shirts, sport shirts and fleece in large quantities to wholesale distributors as undecorated &#147;blanks&#148;, which are subsequently
decorated by screenprinters with designs and logos. Consumers ultimately purchase the Company&#146;s products, with the Gildan label, in venues such as sports, entertainment and corporate events, and travel and tourism destinations. The
Company&#146;s products are also utilized for work uniforms and other end-uses to convey individual, group and team identity. The Company is also a leading supplier of private label and Gildan branded socks primarily sold to mass-market retailers.
In addition, Gildan has an objective to become a significant supplier of men&#146;s and boys&#146; underwear and undecorated activewear products to mass-market retailers in North America.</P>
<P align="justify">
<I><U>Forward-Looking Statements</U></I><BR>
</P>
<P align="justify">
<I>Certain statements included in this press release constitute &#147;forward-looking statements&#148; within the meaning of the U.S. Private Securities Litigation Reform Act of 1995</I> and<I> Canadian securities legislation and regulations, and
are subject to important risks, uncertainties and assumptions. This forward-looking information includes, amongst others, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect
to our beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking statements generally can be identified by the use of conditional or forward-looking terminology such as &#147;may&#148;, &#147;will&#148;,
&#147;expect&#148;, &#147;intend&#148;, &#147;estimate&#148;, &#147;project&#148;, &#147;assume&#148;, &#147;anticipate&#148;, &#147;plan&#148;, &#147;foresee&#148;, &#147;believe&#148; or &#147;continue&#148; or the negatives of these terms or
variations of them or similar terminology. We refer you to the Company&#146;s filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, as well as the &#147;Risks and Uncertainties&#148; section and
the risks described under the section &#147;Financial Risk Management&#148; of the 2009 Annual MD&amp;A for a discussion of the various factors that may affect the Company&#146;s future results. Material factors and assumptions that were applied in
drawing a conclusion or making a forecast or projection are also set out throughout this document.</I></P>
<P align="center">
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<P align="justify">
<I>Forward-looking information is inherently uncertain and the results or events predicted in such forward-looking information may differ materially from actual results or events. Material factors, which could cause actual results or events to
differ materially from a conclusion, forecast or projection in such forward-looking information, include, but are not limited to: </I></P>
<UL style="text-align:justify;">
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>our ability to implement our growth strategies and plans, including achieving market share gains, implementing</I> <I>cost reduction initiatives and completing and successfully integrating acquisitions;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>the intensity of competitive activity and our ability to compete effectively;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>adverse changes in general economic and financial conditions globally or in one or more of the markets we serve;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>our reliance on a small number of significant customers;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>the fact that our customers do not commit contractually to minimum quantity purchases;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>our ability to anticipate changes in consumer preferences and trends;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>our ability to manage inventory levels effectively in relation to changes in customer demand;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>fluctuations and volatility in the price of raw materials used to manufacture our products, such as cotton and</I> <I>polyester fibres;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>our dependence on key suppliers and our ability to maintain an uninterrupted supply of raw materials;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>the impact of climate, political, social and economic risks in the countries in which we operate, including the</I> <I>current political instability in Honduras;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>disruption to manufacturing and distribution activities due to labour disruptions, political instability, bad weather,</I> <I>natural disasters and other unforeseen adverse events;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>changes to international trade legislation that the Company is currently relying on in conducting its manufacturing</I> <I>operations or the application of safeguards thereunder;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>factors or circumstances that could increase our effective income tax rate, including the outcome of any tax audits</I> <I>or changes to applicable tax laws or treaties;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>compliance with applicable environmental, tax, trade, employment, health and safety, and other laws and</I> <I>regulations in the jurisdictions in which we operate;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>our significant reliance on computerized information systems for our business operations;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>changes in our relationship with our employees or changes to domestic and foreign employment laws and</I> <I>regulations;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>negative publicity as a result of violation of labour laws or unethical labour or other business practices by the</I> <I>Company or one of its third-party contractors;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>our dependence on key management and our ability to attract and retain key personnel;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>changes to and failure to comply with consumer product safety laws and regulations, including the recently enacted</I> <I>U.S. Consumer Product Safety Improvement Act;</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>changes in accounting policies and estimates; and</I></LI>
<LI>
<p style="margin-top: 0; margin-bottom: 5">
<I>exposure to risks arising from financial instruments, including credit risk, liquidity risk, foreign currency risk and</I> <I>interest rate risk.</I></LI>
</UL>
<P align="justify">
<I>These factors may cause the Company&#146;s actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements.
Forward-looking statements do not take into account the effect that transactions or non-recurring or other special items announced or occurring after the statements are made, may have on the Company&#146;s business. For example, they do not include
the effect of business dispositions, acquisitions, other business transactions, asset write-downs or other charges announced or occurring after forward-looking statements are made. The financial impact of such transactions and non-recurring and
other special items can be complex and necessarily depends on the facts particular to each of them.</I></P>
<P align="justify">
<I>We believe that the expectations represented by our forward-looking statements are reasonable, yet there can be no assurance that such expectations will prove to be correct. The purpose of the forward-looking statements is to provide the reader
with a description of management&#146;s expectations regarding the Company&#146;s fiscal 2010 financial performance and may not be appropriate for other purposes. Furthermore,
unless otherwise stated, the forward-looking statements contained in this report
are made as of the date of this report, and we do not undertake any obligation
to update publicly or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise unless
required by applicable legislation or regulation. The forward-looking statements
contained in this report are expressly qualified by this cautionary statement. </I></P>
<P align="center">
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<A name=page_8></A>
<P align=justify><I><U>Non-GAAP Financial Measures</U></I><BR></P>
<P align=justify><I>This release includes reference to certain non-GAAP
financial measures such as EBITDA, adjusted net earnings, adjusted diluted EPS,
free cash flow, total indebtedness, and cash in excess of total indebtedness/net
indebtedness. These non-GAAP measures do not have any standardized meanings
prescribed by Canadian GAAP and are therefore unlikely to be comparable to
similar measures presented by other companies. Accordingly, they should not be
considered in isolation. The terms and definitions of the non-GAAP measures used
in this press release and a reconciliation of each non-GAAP measure to the most
directly comparable GAAP measure are provided below. </I></P>
<P align=justify>(1) EBITDA<BR></P>
<P align=justify><I>EBITDA is calculated as earnings before interest, taxes and
depreciation and amortization and excludes the impact of restructuring and other
charges, as well as the non-controlling interest in consolidated joint venture.
The Company uses EBITDA, among other measures, to assess the operating
performance of our business. We also believe this measure is commonly used by
investors and analysts to measure a company&#146;s ability to service debt and to
meet other payment obligations, or as a common valuation measurement. We exclude
depreciation and amortization expenses, which are non-cash in nature and can
vary significantly depending upon accounting methods or non-operating factors
such as historical cost. Excluding these items does not imply they are
necessarily non-recurring. </I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left style="border-top-style: solid; border-top-width: 2" valign="bottom">&nbsp; </TD>
    <TD align=left width="1%" style="border-top-style: solid; border-top-width: 2" valign="bottom">&nbsp;</TD>
    <TD align=left width="10%" style="border-top-style: solid; border-top-width: 2" valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" style="border-top-style: solid; border-top-width: 2" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" style="border-top-style: solid; border-top-width: 2" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" style="border-top-style: solid; border-top-width: 2" valign="bottom">Q4 2008 </TD>
    <TD align=left width="2%" style="border-top-style: solid; border-top-width: 2" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" style="border-top-style: solid; border-top-width: 2" valign="bottom">&nbsp;</TD>
    <TD align=left width="10%" style="border-top-style: solid; border-top-width: 2" valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" style="border-top-style: solid; border-top-width: 2" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" style="border-top-style: solid; border-top-width: 2" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" style="border-top-style: solid; border-top-width: 2" valign="bottom">YTD 2008 </TD>
    <TD align=left width="2%" style="border-top-style: solid; border-top-width: 2" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt"><I>(in U.S.$
      millions)</I> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%" valign="bottom"><B>Q4
      2009</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom">Recast* </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom"><B>YTD 2009</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom">Recast* </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">Net earnings </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>42.4</B> </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">21.8 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>95.3</B> </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">146.4 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">Restructuring and other charges </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom"><B>0.8</B> </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">1.6 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom"><B>6.2</B> </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">5.5 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">Depreciation and amortization </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>17.0</B> </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">15.2 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>65.4</B> </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">57.1 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">Variation of depreciation included in inventories </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom"><B>1.8</B> </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">(1.3</TD>
    <TD align=left width="2%" valign="bottom">) </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom"><B>(2.4</B></TD>
    <TD align=left width="2%" valign="bottom"><B>)</B> </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">(1.0</TD>
    <TD align=left width="2%" valign="bottom">) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">Interest, net </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>0.2</B> </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">1.2 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>1.8</B> </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">7.2 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">Income taxes </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom"><B>(0.7</B></TD>
    <TD align=left width="2%" valign="bottom"><B>)</B> </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">25.3 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom"><B>(5.8</B></TD>
    <TD align=left width="2%" valign="bottom"><B>)</B> </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">34.4 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      bgColor=#e6efff valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">Non-controlling interest of consolidated joint venture </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom"><B>0.1</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom">(0.1</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom"><B>0.1</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom">0.2 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=left valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">EBITDA </TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=right
      width="10%" valign="bottom"><B>61.6</B> </TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=right width="10%" valign="bottom">63.7
    </TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=right
      width="10%" valign="bottom"><B>160.6</B> </TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=right width="10%" valign="bottom">249.8
    </TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; " align=left
    width="2%" valign="bottom">&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><I>*</I> <I>Reflects the impact of the change in accounting policy
      as described in Note 2 to the Condensed notes to the consolidated
      financial statements.</I></TD>
    </TR></TABLE>
<P align=justify style="margin-top: 0"><I>Certain minor rounding variances exist between the financial
statements and this summary.</I></P>
<P align=center>8<BR></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_9></A>
<P align=justify>(2) Adjusted net earnings and adjusted diluted EPS<BR></P>
<P align=justify><I>Adjusted net earnings and adjusted diluted earnings are
calculated as net earnings and earnings per share excluding restructuring and
other charges, as discussed in Note 16 to the 2009 audited Consolidated
Financial Statements. The Company uses and presents these non-GAAP measures to
assess its operating performance from one period to the next without the
variation caused by restructuring and other charges that could potentially
distort the analysis of trends in our business performance. Excluding these
items does not imply they are necessarily non-recurring. </I></P>
<TABLE
style="FONT-SIZE: 8pt; BORDER-COLLAPSE: collapse; border-top-style:solid; border-top-width:0; border-bottom-style:solid; border-bottom-width:0"
cellSpacing=0 cellPadding=0 width="100%">

  <TR vAlign=top>
    <TD align=left style="border-top-style: solid; border-top-width: 2" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp; </FONT></TD>
    <TD align=left width="7%" style="border-top-style: solid; border-top-width: 2" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp; </FONT></TD>
    <TD align=left width="2%" style="border-top-style: solid; border-top-width: 2" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" style="border-top-style: solid; border-top-width: 2" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" style="border-top-style: solid; border-top-width: 2" valign="bottom" bordercolor="#000000"><FONT size=2>Q4 2008 </FONT></TD>
    <TD align=left width="2%" style="border-top-style: solid; border-top-width: 2" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" style="border-top-style: solid; border-top-width: 2" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="7%" style="border-top-style: solid; border-top-width: 2" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp; </FONT></TD>
    <TD align=left width="2%" style="border-top-style: solid; border-top-width: 2" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" style="border-top-style: solid; border-top-width: 2" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" style="border-top-style: solid; border-top-width: 2" valign="bottom" bordercolor="#000000"><FONT size=2>YTD 2008 </FONT></TD>
    <TD align=left width="2%" style="border-top-style: solid; border-top-width: 2" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left valign="bottom" bordercolor="#000000"><FONT
      size=2><I>(in U.S.$ millions, except per share amounts)</I> </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="7%" valign="bottom" bordercolor="#000000"><FONT
      size=2><B>Q4 2009</B> </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom" bordercolor="#000000"><FONT
      size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" bordercolor="#000000"><FONT
      size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="7%" valign="bottom" bordercolor="#000000"><FONT
      size=2>Recast* </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom" bordercolor="#000000"><FONT
      size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" bordercolor="#000000"><FONT
      size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="7%" valign="bottom" bordercolor="#000000"><FONT
      size=2><B>YTD 2009</B> </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom" bordercolor="#000000"><FONT
      size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" bordercolor="#000000"><FONT
      size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="7%" valign="bottom" bordercolor="#000000"><FONT
      size=2>Recast* </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom" bordercolor="#000000"><FONT
      size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>Net earnings and comprehensive
      income </FONT></TD>
    <TD align=right width="7%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2><B>42.4</B>
    </FONT></TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>21.8 </FONT></TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2><B>95.3</B>
    </FONT></TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>146.4 </FONT></TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bordercolor="#000000"><FONT size=2>Adjustments for: </FONT></TD>
    <TD align=left width="7%" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp; </FONT></TD>
    <TD align=left width="2%" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="7%" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp; </FONT></TD>
    <TD align=left width="2%" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="7%" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp; </FONT></TD>
    <TD align=left width="2%" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="7%" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp; </FONT></TD>
    <TD align=left width="2%" valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>Restructuring and other
      charges </FONT></TD>
    <TD align=right width="7%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2><B>0.8</B>
    </FONT></TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>1.6 </FONT></TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2><B>6.2</B>
    </FONT></TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>5.5 </FONT></TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bordercolor="#000000" style="border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>Income tax recovery on restructuring and other
      charges </FONT></TD>
    <TD align=right width="7%" valign="bottom" bordercolor="#000000" style="border-bottom-style: solid; border-bottom-width: 1"><FONT size=2><B>(0.8</B></FONT></TD>
    <TD align=left width="2%" valign="bottom" bordercolor="#000000" style="border-bottom-style: solid; border-bottom-width: 1"><FONT size=2><B>)</B> </FONT></TD>
    <TD align=left width="1%" valign="bottom" bordercolor="#000000" style="border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" valign="bottom" bordercolor="#000000" style="border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>(0.6</FONT></TD>
    <TD align=left width="2%" valign="bottom" bordercolor="#000000" style="border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>) </FONT></TD>
    <TD align=left width="1%" valign="bottom" bordercolor="#000000" style="border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" valign="bottom" bordercolor="#000000" style="border-bottom-style: solid; border-bottom-width: 1"><FONT size=2><B>(1.8</B></FONT></TD>
    <TD align=left width="2%" valign="bottom" bordercolor="#000000" style="border-bottom-style: solid; border-bottom-width: 1"><FONT size=2><B>)</B> </FONT></TD>
    <TD align=left width="1%" valign="bottom" bordercolor="#000000" style="border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" valign="bottom" bordercolor="#000000" style="border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>(0.6</FONT></TD>
    <TD align=left width="2%" valign="bottom" bordercolor="#000000" style="border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>) </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>Adjusted net earnings
    </FONT></TD>
    <TD align=right width="7%" bgColor=#e6efff valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1"><FONT size=2><B>42.4</B>
    </FONT></TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" bgColor=#e6efff valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>22.8 </FONT></TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" bgColor=#e6efff valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1"><FONT size=2><B>99.7</B>
    </FONT></TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" bgColor=#e6efff valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>151.3 </FONT></TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1"><FONT size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style:none; border-bottom-width:medium"><FONT size=2>Basic EPS<SUP>**</SUP> </FONT></TD>
    <TD align=right width="7%" valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style:none; border-bottom-width:medium"><FONT size=2><B>0.35</B> </FONT></TD>
    <TD align=left width="2%" valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style:none; border-bottom-width:medium"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style:none; border-bottom-width:medium"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style:none; border-bottom-width:medium"><FONT size=2>0.18 </FONT></TD>
    <TD align=left width="2%" valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style:none; border-bottom-width:medium"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style:none; border-bottom-width:medium"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style:none; border-bottom-width:medium"><FONT size=2><B>0.79</B> </FONT></TD>
    <TD align=left width="2%" valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style:none; border-bottom-width:medium"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style:none; border-bottom-width:medium"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style:none; border-bottom-width:medium"><FONT size=2>1.21 </FONT></TD>
    <TD align=left width="2%" valign="bottom" bordercolor="#000000" style="border-top-style: solid; border-top-width: 1; border-bottom-style:none; border-bottom-width:medium"><FONT size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=left
      bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>Diluted EPS<SUP>**</SUP> </FONT></TD>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=right width="7%"
    bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2><B>0.35</B> </FONT></TD>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=left width="2%"
    bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=left width="1%"
    bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=right width="7%"
    bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>0.18 </FONT></TD>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=left width="2%"
    bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=left width="1%"
    bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=right width="7%"
    bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2><B>0.79</B> </FONT></TD>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=left width="2%"
    bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=left width="1%"
    bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=right width="7%"
    bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>1.20 </FONT></TD>
    <TD style="BORDER-BOTTOM: medium none #000000; ; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium" align=left width="2%"
    bgColor=#e6efff valign="bottom" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" style="border-bottom-style: solid; border-bottom-width: 2; border-top-style:none; border-top-width:medium" bordercolor="#000000"><FONT size=2>Adjusted diluted EPS<SUP>**</SUP> </FONT></TD>
    <TD align=right width="7%" valign="bottom" style="border-bottom-style: solid; border-bottom-width: 2; border-top-style:none; border-top-width:medium" bordercolor="#000000"><FONT size=2><B>0.35</B> </FONT></TD>
    <TD align=left width="2%" valign="bottom" style="border-bottom-style: solid; border-bottom-width: 2; border-top-style:none; border-top-width:medium" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" valign="bottom" style="border-bottom-style: solid; border-bottom-width: 2; border-top-style:none; border-top-width:medium" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" valign="bottom" style="border-bottom-style: solid; border-bottom-width: 2; border-top-style:none; border-top-width:medium" bordercolor="#000000"><FONT size=2>0.19 </FONT></TD>
    <TD align=left width="2%" valign="bottom" style="border-bottom-style: solid; border-bottom-width: 2; border-top-style:none; border-top-width:medium" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" valign="bottom" style="border-bottom-style: solid; border-bottom-width: 2; border-top-style:none; border-top-width:medium" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" valign="bottom" style="border-bottom-style: solid; border-bottom-width: 2; border-top-style:none; border-top-width:medium" bordercolor="#000000"><FONT size=2><B>0.82</B> </FONT></TD>
    <TD align=left width="2%" valign="bottom" style="border-bottom-style: solid; border-bottom-width: 2; border-top-style:none; border-top-width:medium" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%" valign="bottom" style="border-bottom-style: solid; border-bottom-width: 2; border-top-style:none; border-top-width:medium" bordercolor="#000000"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=right width="7%" valign="bottom" style="border-bottom-style: solid; border-bottom-width: 2; border-top-style:none; border-top-width:medium" bordercolor="#000000"><FONT size=2>1.24 </FONT></TD>
    <TD align=left width="2%" valign="bottom" style="border-bottom-style: solid; border-bottom-width: 2; border-top-style:none; border-top-width:medium" bordercolor="#000000"><FONT
size=2>&nbsp;</FONT></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%"><FONT size=1><I>*</I> <I>Reflects the impact of the change in accounting policy
      as described in Note 2 to the Condensed notes to the consolidated
      financial statements.</I></FONT></TD>
    </TR>
  <TR>
    <TD vAlign=top width="5%"><FONT size=1><I>**</I> <I>Quarterly EPS may not add to year-to-date EPS due to
      rounding</I></FONT></TD>
    </TR></TABLE>
<P align=justify style="margin-top: 0"><I>Certain minor rounding variances exist between the financial
statements and this summary.</I></P>
<P align=justify>(3) Free cash flow<BR></P>
<P align=justify><I>Free cash flow is defined as cash from operating activities
including net changes in non-cash working capital balances, less cash flow used
in investing activities excluding business acquisitions. We consider free cash
flow to be an important indicator of the financial strength and performance of
our business, because it shows how much cash is available after capital
expenditures to repay debt and to reinvest in our business. We believe this
measure is commonly used by investors and analysts when valuing a business and
its underlying assets. </I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt"><I>(in U.S.$
      millions)</I> </TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=right width="10%" valign="bottom"><B>Q4
      2009</B> </TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=right width="10%" valign="bottom">Q4
      2008 </TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=right
      width="10%" valign="bottom"><B>YTD 2009</B> </TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=right width="10%" valign="bottom">YTD
      2008 </TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left
    width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">Cash flows from operating activities </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>122.1</B> </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">70.5 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom"><B>169.2</B> </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom">238.9 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">Cash flows used in investing activities </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom"><B>(8.5</B></TD>
    <TD align=left width="2%" valign="bottom"><B>)</B> </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">(14.3</TD>
    <TD align=left width="2%" valign="bottom">) </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom"><B>(34.2</B></TD>
    <TD align=left width="2%" valign="bottom"><B>)</B> </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">(227.3</TD>
    <TD align=left width="2%" valign="bottom">) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">Adjustments for: </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Business acquisitions </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom"><B>1.2</B> </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">- </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom"><B>1.2</B> </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="10%" valign="bottom">126.8 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      bgColor=#e6efff valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Restricted cash (reimbursed) paid related to
      acquisition </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom"><B>(1.9</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom"><B>)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom"><B>(4.0</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom"><B>)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom">10.0 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left valign="bottom">
    <p style="text-indent: -15pt; margin-left: 15pt">Free cash flow </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%" valign="bottom"><B>112.9</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%" valign="bottom">56.2
    </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%" valign="bottom"><B>132.2</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%" valign="bottom">148.4
    </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD bgColor=#ffffff>&nbsp; </TD>
    <TD width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff colSpan=3><I>Certain minor rounding
      variances exist between the financial statements and this summary.</I> </TD>
    <TD align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD align=left width="2%" bgColor=#ffffff>&nbsp;</TD></TR></TABLE>
<P align=center>9<BR></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_10></A>
<P align=justify>(4) Total indebtedness and Cash in excess of total
indebtedness/Net indebtedness </P>
<P align=justify><I>We consider total indebtedness and (cash in excess of total
indebtedness) net indebtedness to be important indicators of the financial
leverage of the Company.</I><I> </I></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left><I>(in U.S.$
      millions)</I> </TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left width="10%">&nbsp;
    </TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=right width="10%"><B>Q4
      2009</B> </TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=right width="10%">Q4
      2008 </TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-top-style:solid; border-top-width:2" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF">Current portion of long-term debt </TD>
    <TD align=left width="1%" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=left width="10%" bgcolor="#E6EFFF">&nbsp; </TD>
    <TD align=left width="2%" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=left width="1%" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=right width="10%" bgcolor="#E6EFFF"><B>2.8</B> </TD>
    <TD align=left width="2%" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=left width="1%" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=right width="10%" bgcolor="#E6EFFF">3.6 </TD>
    <TD align=left width="2%" bgcolor="#E6EFFF" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Long-term debt </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="10%">&nbsp;
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><B>1.6</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">49.4
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF"><B>Total indebtedness</B> </TD>
    <TD align=left width="1%" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=left width="10%" bgcolor="#E6EFFF">&nbsp; </TD>
    <TD align=left width="2%" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=left width="1%" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=right width="10%" bgcolor="#E6EFFF"><B>4.4</B> </TD>
    <TD align=left width="2%" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=left width="1%" bgcolor="#E6EFFF" >&nbsp;</TD>
    <TD align=right width="10%" bgcolor="#E6EFFF">53.0 </TD>
    <TD align=left width="2%" bgcolor="#E6EFFF" >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Cash and cash
      equivalents </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="10%">&nbsp;
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%"><B>(99.7</B></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    ><B>)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
    width="10%">(12.4</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left colSpan=3 bgcolor="#E6EFFF"><B>(Cash
      in excess of total indebtedness) Net indebtedness</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%" bgcolor="#E6EFFF"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" bgcolor="#E6EFFF"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%" bgcolor="#E6EFFF"><B>(95.3</B></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%" bgcolor="#E6EFFF"
    ><B>)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" bgcolor="#E6EFFF"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%" bgcolor="#E6EFFF">40.6
    </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%" bgcolor="#E6EFFF"
    >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  </TABLE>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left colSpan=2 height="15" width="646"><I>Certain minor rounding variances exist between
      the financial statements and this summary.</I> </TD>
    <TD align=left width="350" height="15">&nbsp; </TD>
    </TR>
  <TR>
    <TD height="15" width="350">&nbsp; </TD>
    <TD width="350" height="15">&nbsp; </TD>
    <TD width="350" height="15">&nbsp; </TD>
    </TR>
  <TR>
    <TD height="15" width="350">&nbsp; </TD>
    <TD width="350" height="15">&nbsp; </TD>
    <TD width="350" height="15">&nbsp; </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left height="15" width="350"><B>CONTACTS:</B> </TD>
    <TD align=left width="350" height="15">&nbsp; </TD>
    <TD align=left width="350" height="15">&nbsp; </TD>
    </TR>
  <TR>
    <TD height="15" width="350" align="left">&nbsp; </TD>
    <TD width="350" height="15" align="left">&nbsp; </TD>
    <TD width="350" height="15" align="left">&nbsp; </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left height="15" width="350" valign="bottom"><B>Investor Relations</B> </TD>
    <TD align=left width="350" height="15" valign="bottom">&nbsp; </TD>
    <TD align=left width="350" height="15" valign="bottom">&nbsp; </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left height="15" width="350" valign="bottom">Laurence G. Sellyn, </TD>
    <TD align=left width="350" height="15" valign="bottom">Sophie Argiriou, </TD>
    <TD align=left width="350" height="15" valign="bottom">Benoit Leroux, </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left height="15" width="350" valign="bottom">Executive Vice-President, </TD>
    <TD align=left width="350" height="15" valign="bottom">Director, </TD>
    <TD align=left width="350" height="15" valign="bottom">Director, </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left height="15" width="350" valign="bottom">Chief Financial and Administrative Officer </TD>
    <TD align=left width="350" height="15" valign="bottom">Investor Communications </TD>
    <TD align=left width="350" height="15" valign="bottom">Corporate Development </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left height="15" width="350" valign="bottom">Tel: (514) 343-8805 </TD>
    <TD align=left width="350" height="15" valign="bottom">Tel: (514) 343-8815 </TD>
    <TD align=left width="350" height="15" valign="bottom">Tel: (514) 343-8898 </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left height="15" width="350" valign="bottom">Email: <U><FONT color=#0000ff>lsellyn@gildan.com</FONT></U>
    </TD>
    <TD align=left width="350" height="15" valign="bottom">Email: <U><FONT
      color=#0000ff>sargiriou@gildan.com</FONT></U> </TD>
    <TD align=left width="350" height="15" valign="bottom">&nbsp;Email: <U><FONT
      color=#0000ff>bleroux@gildan.com</FONT></U></TD>
    </TR>
  <TR>
    <TD height="15" width="350" valign="bottom">&nbsp; </TD>
    <TD width="350" height="15" valign="bottom">&nbsp; </TD>
    <TD width="350" height="15" valign="bottom">&nbsp; </TD>
    </TR>
  <TR>
    <TD height="15" width="350" valign="bottom">&nbsp; </TD>
    <TD width="350" height="15" valign="bottom">&nbsp; </TD>
    <TD width="350" height="15" valign="bottom">&nbsp; </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left height="15" width="350" valign="bottom"><B>Media Relations</B> </TD>
    <TD align=left width="350" height="15" valign="bottom">&nbsp; </TD>
    <TD align=left width="350" height="15" valign="bottom">&nbsp; </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left height="15" width="350" valign="bottom">Genevi&#232;ve Gosselin<B>,</B> </TD>
    <TD align=left width="350" height="15" valign="bottom">&nbsp; </TD>
    <TD align=left width="350" height="15" valign="bottom">&nbsp; </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left height="15" width="350" valign="bottom">Director, Corporate Communications </TD>
    <TD align=left width="350" height="15" valign="bottom">&nbsp; </TD>
    <TD align=left width="350" height="15" valign="bottom">&nbsp; </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left height="15" width="350" valign="bottom">Tel: (514) 343-8814 </TD>
    <TD align=left width="350" height="15" valign="bottom">&nbsp; </TD>
    <TD align=left width="350" height="15" valign="bottom">&nbsp; </TD>
    </TR>
  <TR vAlign=top>
    <TD align=left height="15" width="350" valign="bottom">Email: <U><FONT
      color=#0000ff>ggosselin@gildan.com</FONT></U> </TD>
    <TD align=left width="350" height="15" valign="bottom">&nbsp; </TD>
    <TD align=left width="350" height="15" valign="bottom">&nbsp; </TD>
    </TR></TABLE>
<P align=center>10<BR></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_11></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD align=center colSpan=7><B>Gildan Activewear Inc.</B>&nbsp;&nbsp; <B><br>
    Consolidated Balance Sheets</B>&nbsp;&nbsp; <B><br>
    (in thousands of U.S.
      dollars)</B>&nbsp;&nbsp; </TD>
    </TR>
  <TR>
    <TD valign="bottom">&nbsp; </TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="12%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="12%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%" valign="bottom">October 4, 2009 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%" valign="bottom">October 5, 2008 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">(audited) </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">(audited) </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=left width="12%" valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">(Recast - note 2)</TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">Current assets: </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; &nbsp;Cash and cash equivalents </TD>
    <TD align=left width="1%" valign="bottom">$</TD>
    <TD align=right width="12%" valign="bottom">&nbsp;99,732 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">$</TD>
    <TD align=right width="12%" valign="bottom">&nbsp;12,357 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">&nbsp; &nbsp;Accounts receivable </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">166,762 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">215,833 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; &nbsp;Inventories </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">301,867 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">316,172 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">&nbsp; &nbsp;Prepaid expenses and deposits
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff valign="bottom">11,604 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff valign="bottom">10,413 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">579,965 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">554,775 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD width="12%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD width="12%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">Property, plant and equipment </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">414,538 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">436,516 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">Intangible assets </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">56,757 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">59,954 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">Other assets </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">9,985 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">17,277 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">Assets held for sale </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">6,544 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">10,497 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">Goodwill </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">6,709 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">6,709 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">Future income taxes </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff valign="bottom">7,910 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff valign="bottom">9,283 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD valign="bottom">&nbsp; </TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="12%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="12%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">Total assets </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="12%"
    bgColor=#e6efff valign="bottom">&nbsp;1,082,408 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="12%"
    bgColor=#e6efff valign="bottom">&nbsp;1,095,011 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD valign="bottom">&nbsp; </TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="12%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="12%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">Current liabilities: </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; &nbsp;Accounts payable and accrued liabilities </TD>
    <TD align=left width="1%" valign="bottom">$</TD>
    <TD align=right width="12%" valign="bottom">&nbsp;124,378 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">$</TD>
    <TD align=right width="12%" valign="bottom">&nbsp;149,344 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">&nbsp; &nbsp;Income taxes payable </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">11,822 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">46,627 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; &nbsp;Current portion of long-term debt </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%" valign="bottom">2,803
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%" valign="bottom">3,556
    </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">139,003 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">199,527 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD valign="bottom">&nbsp; </TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="12%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="12%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">Long-term debt </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">1,584 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">49,448 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">Future income taxes </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">23,764 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">27,331 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">Non-controlling interest in consolidated
      joint venture </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">7,272 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">7,162 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD valign="bottom">&nbsp; </TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="12%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="12%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">Shareholders' equity: </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="12%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; &nbsp;Share capital </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">93,042 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">89,377 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">&nbsp; &nbsp;Contributed surplus </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">6,976 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">6,728 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD valign="bottom">&nbsp; </TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="12%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="12%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">&nbsp; &nbsp;Retained earnings </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">784,519 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" bgColor=#e6efff valign="bottom">689,190 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; &nbsp;Accumulated other comprehensive income </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%" valign="bottom">26,248 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%" valign="bottom">26,248 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff valign="bottom">810,767 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%"
    bgColor=#e6efff valign="bottom">715,438 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">910,785 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" valign="bottom">&nbsp;</TD>
    <TD align=right width="12%" valign="bottom">811,543 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD width="12%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD width="1%" bgColor=#e6efff valign="bottom">&nbsp;</TD>
    <TD width="12%" bgColor=#e6efff valign="bottom">&nbsp; </TD>
    <TD width="2%" bgColor=#e6efff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom">Total liabilities and shareholders' equity </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="12%" valign="bottom">&nbsp;1,082,408 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%" valign="bottom">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="12%" valign="bottom">&nbsp;1,095,011 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD bgColor=#ffffff valign="bottom">&nbsp; </TD>
    <TD width="1%" bgColor=#ffffff valign="bottom">&nbsp;</TD>
    <TD width="12%" bgColor=#ffffff valign="bottom">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff valign="bottom">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff valign="bottom">&nbsp;</TD>
    <TD width="12%" bgColor=#ffffff valign="bottom">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD bgColor=#ffffff valign="bottom">&nbsp; </TD>
    <TD width="1%" bgColor=#ffffff valign="bottom">&nbsp;</TD>
    <TD width="12%" bgColor=#ffffff valign="bottom">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff valign="bottom">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff valign="bottom">&nbsp;</TD>
    <TD width="12%" bgColor=#ffffff valign="bottom">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff valign="bottom">See accompanying condensed notes to
      consolidated financial statements. </TD>
    <TD align=left width="1%" bgColor=#ffffff valign="bottom">&nbsp;</TD>
    <TD align=left width="12%" bgColor=#ffffff valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#ffffff valign="bottom">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#ffffff valign="bottom">&nbsp;</TD>
    <TD align=left width="12%" bgColor=#ffffff valign="bottom">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#ffffff valign="bottom">&nbsp;</TD></TR></TABLE>
<P align=center>11<BR></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_12></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 height="543">

  <TR vAlign=bottom>
    <TD align=center colSpan=13 height="45">&nbsp;<B>Gildan Activewear
      Inc.</B>&nbsp;&nbsp; <B><br>
    Consolidated Statements of Earnings and
      Comprehensive Income</B>&nbsp; <B><br>
    (in thousands of U.S. dollars, except per
      share data)</B>&nbsp; </TD>
    </TR>
  <TR>
    <TD valign="bottom" height="15">&nbsp; </TD>
    <TD width="1%" valign="bottom" height="15" ></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15" ></TD>
    <TD width="1%" valign="bottom" height="15" ></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15" ></TD>
    <TD width="1%" valign="bottom" height="15" ></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15" ></TD>
    <TD width="1%" valign="bottom" height="15" ></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom" height="15" style="border-bottom-style: solid; border-bottom-width: 1" ></TD>
    <TD align=center width="23%" colSpan=4 valign="bottom" height="15"><B>Three months ended</B> </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" style="border-bottom-style: solid; border-bottom-width: 1" ></TD>
    <TD align=center width="23%" colSpan=4 valign="bottom" height="15"><B>Twelve months ended</B> </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1" ></TD>
    <TD align=right width="10%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1">October 4, 2009 </TD>
    <TD align=left width="2%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1" ></TD>
    <TD align=right width="10%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1">October 5, 2008 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1" ></TD>
    <TD align=right width="10%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1">October 4, 2009 </TD>
    <TD align=left width="2%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1" ></TD>
    <TD align=right width="10%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 1">October 5, 2008 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1" ></TD>
    <TD align=right width="10%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1">(unaudited) </TD>
    <TD align=left width="2%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1" ></TD>
    <TD align=right width="10%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1">(unaudited) </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1" ></TD>
    <TD align=right width="10%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1">(audited) </TD>
    <TD align=left width="2%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1" ></TD>
    <TD align=right width="10%" valign="bottom" height="15" style="border-top-style: solid; border-top-width: 1">(audited) </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">(Recast - note 1 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">(Recast - note 1 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">&amp; note 2)</TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">&amp; note 2)</TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD></TR>
  <TR>
    <TD valign="bottom" height="15">&nbsp; </TD>
    <TD width="1%" valign="bottom" height="15" ></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15" ></TD>
    <TD width="1%" valign="bottom" height="15" ></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15" ></TD>
    <TD width="1%" valign="bottom" height="15" ></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15" ></TD>
    <TD width="1%" valign="bottom" height="15" ></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">Net sales </TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">$</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp;301,720 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">$</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp;324,717 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">$</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp;1,038,319 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">$</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp;1,249,711 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="16">Cost of sales </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom" height="16">224,064 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom" height="16">237,631 </TD>
    <TD align=left width="2%" valign="bottom" height="16" ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom" height="16">807,986 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom" height="16">911,242 </TD>
    <TD align=left width="2%" valign="bottom" height="16" ></TD></TR>
  <TR>
    <TD bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">Gross profit </TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">77,656 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">87,086 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">230,333 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">338,469 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD></TR>
  <TR>
    <TD bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">Selling, general and administrative expenses </TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">34,151 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">36,709 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">134,785 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">142,760 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="16">Restructuring and other charges (note 3)
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">778 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">1,560 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">6,199 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">5,489 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD></TR>
  <TR>
    <TD valign="bottom" height="15">&nbsp; </TD>
    <TD width="1%" valign="bottom" height="15" ></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15" ></TD>
    <TD width="1%" valign="bottom" height="15" ></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15" ></TD>
    <TD width="1%" valign="bottom" height="15" ></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15" ></TD>
    <TD width="1%" valign="bottom" height="15" ></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">Operating income </TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">42,727 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">48,817 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">89,349 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">190,220 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR>
    <TD valign="bottom" height="12">&nbsp; </TD>
    <TD width="1%" valign="bottom" height="12" ></TD>
    <TD width="10%" valign="bottom" height="12">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="12" ></TD>
    <TD width="1%" valign="bottom" height="12" ></TD>
    <TD width="10%" valign="bottom" height="12">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="12" ></TD>
    <TD width="1%" valign="bottom" height="12" ></TD>
    <TD width="10%" valign="bottom" height="12">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="12" ></TD>
    <TD width="1%" valign="bottom" height="12" ></TD>
    <TD width="10%" valign="bottom" height="12">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="12" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">Financial expense (income), net (note 5)
</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">1,000 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">1,795 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(304</TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">9,240 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="16">Non-controlling interest in consolidated joint venture </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%" valign="bottom" height="16">88
</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
    width="10%" valign="bottom" height="16">(127</TD>
    <TD align=left width="2%" valign="bottom" height="16" >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%" valign="bottom" height="16">110
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%" valign="bottom" height="16">230
    </TD>
    <TD align=left width="2%" valign="bottom" height="16" ></TD></TR>
  <TR>
    <TD bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">Earnings before income taxes </TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">41,639 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">47,149 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">89,543 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">180,750 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD></TR>
  <TR>
    <TD bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="16">Income taxes </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
    width="10%" valign="bottom" height="16">(746</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom" height="16"
    >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom" height="16">25,324 </TD>
    <TD align=left width="2%" valign="bottom" height="16" ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
    width="10%" valign="bottom" height="16">(5,786</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom" height="16"
    >) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%" valign="bottom" height="16"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom" height="16">34,400 </TD>
    <TD align=left width="2%" valign="bottom" height="16" ></TD></TR>
  <TR>
    <TD bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="16">Net earnings and comprehensive income </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom" height="17"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%" valign="bottom" height="17">&nbsp;42,385 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%" valign="bottom" height="17"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom" height="17"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%" valign="bottom" height="17">&nbsp;21,825 </TD>
    <TD align=left width="2%" valign="bottom" height="16" ></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom" height="17"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%" valign="bottom" height="17">&nbsp;95,329 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%" valign="bottom" height="17"
    ></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom" height="17"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%" valign="bottom" height="17">&nbsp;146,350 </TD>
    <TD align=left width="2%" valign="bottom" height="16" ></TD></TR>
  <TR>
    <TD bgColor=#e6efff valign="bottom" height="16">&nbsp; </TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">Earnings per share: </TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">&nbsp; &nbsp;Basic EPS </TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">$</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp;0.35 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">$</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp;0.18 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">$</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp;0.79 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">$</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp;1.21 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">&nbsp; &nbsp;Diluted EPS </TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">0.35 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">0.18 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">0.79 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">1.20 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD></TR>
  <TR>
    <TD bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">Weighted average number of shares outstanding (in
      thousands): </TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=left width="10%" valign="bottom" height="15"></TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=left width="10%" valign="bottom" height="15"></TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=left width="10%" valign="bottom" height="15"></TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=left width="10%" valign="bottom" height="15"></TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">&nbsp; &nbsp;Basic </TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">120,959 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">120,531 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">120,811 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">120,479 </TD>
    <TD align=left width="2%"  bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">&nbsp; &nbsp;Diluted </TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">121,668 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">121,558 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">121,435 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD>
    <TD align=left width="1%" valign="bottom" height="15" ></TD>
    <TD align=right width="10%" valign="bottom" height="15">121,622 </TD>
    <TD align=left width="2%" valign="bottom" height="15" ></TD></TR></TABLE>
<P align=justify>See accompanying condensed notes to consolidated financial
statements.</P>
<P align=center>12<BR></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_13></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 height="822">

  <TR vAlign=bottom>
    <TD align=center colSpan=13 height="45"><B>Gildan Activewear Inc.</B>
      <BR><B>Consolidated Statements of Cash Flows</B> <BR><B>(in thousands of
      US dollars)</B> </TD></TR>
  <tr>
    <TD valign="bottom" height="15">&nbsp; </TD>
    <TD width="1%" valign="bottom" height="15"></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15"></TD>
    <TD width="1%" valign="bottom" height="15"></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15"></TD>
    <TD width="1%" valign="bottom" height="15"></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15"></TD>
    <TD width="1%" valign="bottom" height="15"></TD>
    <TD width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" valign="bottom" height="15"></TD>
  </tr>
  <tr>
    <TD align=left valign="bottom" height="16">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="23%"
    colSpan=4 valign="bottom" height="16"><B>Three months ended</B> </TD>
    <TD align=center width="2%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="23%"
    colSpan=4 valign="bottom" height="16"><B>Twelve months ended</B> </TD>
    <TD align=left width="2%" valign="bottom" height="16"></TD>
  </tr>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">October 4, </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">October 5, </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">October 4, </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">October 5, </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="16">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%" valign="bottom" height="16">2009
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%" valign="bottom" height="16">2008
    </TD>
    <TD align=left width="2%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%" valign="bottom" height="16">2009
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%" valign="bottom" height="16">2008
    </TD>
    <TD align=left width="2%" valign="bottom" height="16"></TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(unaudited) </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(unaudited) </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(audited) </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(audited) </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(Recast - </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(Recast - </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">note 2) </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">note 2) </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">Cash flows from (used in) operating
      activities: </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Net earnings </TD>
    <TD align=left width="1%" valign="bottom" height="15">$</TD>
    <TD align=right width="10%" valign="bottom" height="15">&nbsp;42,385 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15">$</TD>
    <TD align=right width="10%" valign="bottom" height="15">&nbsp;21,825 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15">$</TD>
    <TD align=right width="10%" valign="bottom" height="15">&nbsp;95,329 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15">$</TD>
    <TD align=right width="10%" valign="bottom" height="15">&nbsp;146,350 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Adjustments for: </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Depreciation and amortization (note 4)
    </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">16,990 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">15,240 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">65,407 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">57,135 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Variation of
      depreciation included in inventories (note 4) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">1,828 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(1,334</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(2,437</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(957</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;&nbsp;&nbsp;&nbsp; Restructuring charges related to
      assets held for sale and <br>
    property, plant and equipment (note 3) </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">408 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">840 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">976 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">2,174 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;(Gain) loss on disposal
      of property, plant and equipment </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(10</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">382 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">561 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">1,369 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Stock-based compensation costs </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">812 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">882 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">3,007 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">2,965 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Future income taxes </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(2,063</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(16,088</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(2,434</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(15,885</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Non-controlling interest </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">88 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(127</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">110 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">230 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="16">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;&nbsp;&nbsp;&nbsp; Unrealized net
      loss (gain) on foreign exchange and financial derivatives </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">2,494 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">(2,475</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="16">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">(1,012</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom" height="16">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">(2,222</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="16">) </TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">62,932 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">19,145 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">159,507 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">191,159 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Changes in non-cash working
      capital balances: </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Accounts receivable </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">19,760 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">27,587 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">48,351 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">10,263 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Inventories </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">35,860 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(23,342</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">16,742 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(31,178</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Prepaid expenses and deposits </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">614 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">1,045 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(1,191</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(881</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Accounts payable and
      accrued liabilities </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">3,208 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">8,391 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(22,731</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">25,700 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="16">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp; &nbsp;Income taxes payable </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
    width="10%" valign="bottom" height="16">(282</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom" height="16">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom" height="16">37,646 </TD>
    <TD align=left width="2%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom" height="16">(31,499</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%" valign="bottom" height="16">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%" valign="bottom" height="16">43,802 </TD>
    <TD align=left width="2%" valign="bottom" height="16"></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">122,092 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">70,472 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">169,179 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">238,865 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">Cash flows from (used in) financing activities: </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;&nbsp; Decrease in amounts drawn
      under revolving long-term credit facility </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(88,000</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(55,000</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(45,000</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(4,000</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Decrease in bank indebtedness </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">- </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(1,478</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">- </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(2,739</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Increase in other long-term
      debt </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">- </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">699 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">44 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">2,805 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Repayment of other long-term debt </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(535</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(1,134</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(3,661</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(5,461</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Proceeds from the issuance of
      shares </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">167 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">178 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">906 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">1,138 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="16">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Repurchase of shares </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%" valign="bottom" height="16">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
width="10%" valign="bottom" height="16">(12</TD>
    <TD align=left width="2%" valign="bottom" height="16">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%" valign="bottom" height="16">- </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="2%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="1%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
width="10%" valign="bottom" height="16">(12</TD>
    <TD align=left width="2%" valign="bottom" height="16">) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(88,368</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(56,747</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(47,711</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(8,269</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">Cash flows from (used in) investing activities: </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=left width="10%" valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Purchase of property, plant
      and equipment </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(10,301</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(17,239</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(44,938</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(97,030</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Business acquisition </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(1,196</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">- </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(1,196</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(126,819</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Restricted cash related to
      business acquisition </TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">1,922 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">- </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">3,958 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#e6efff valign="bottom" height="15">&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff valign="bottom" height="15">(10,000</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="15">) </TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Proceeds on disposal of assets held for sale
    </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">661 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">2,612 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">6,349 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">3,736 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="16">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Net decrease in other assets
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">412 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">294 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">1,629 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">2,826 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(8,502</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(14,333</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(34,198</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(227,287</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="16">
    <p style="text-indent: -15pt; margin-left: 15pt">Effect of exchange rate changes on cash and
      cash equivalents <br>
    denominated in foreign currencies </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">32 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">(230</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="16">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">105 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="16">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="16">(202</TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="16">) </TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">Net increase (decrease) in cash and cash equivalents during
      the period </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">25,254 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">(838</TD>
    <TD align=left width="2%" valign="bottom" height="15">) </TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">87,375 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD>
    <TD align=left width="1%" valign="bottom" height="15"></TD>
    <TD align=right width="10%" valign="bottom" height="15">3,107 </TD>
    <TD align=left width="2%" valign="bottom" height="15"></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff valign="bottom" height="18">
    <p style="text-indent: -15pt; margin-left: 15pt">Cash and cash equivalents, beginning of
      period </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="18">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="18">74,478 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom" height="18">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="18">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="18">13,195 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="18">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="18">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="18">12,357 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    bgColor=#e6efff valign="bottom" height="18">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    bgColor=#e6efff valign="bottom" height="18">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff valign="bottom" height="18">9,250 </TD>
    <TD align=left width="2%" bgColor=#e6efff valign="bottom" height="18">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" height="16">
    <p style="text-indent: -15pt; margin-left: 15pt">Cash and cash equivalents, end of period </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom" height="17">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%" valign="bottom" height="17">&nbsp;99,732 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%" valign="bottom" height="17"></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom" height="17">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%" valign="bottom" height="17">&nbsp;12,357 </TD>
    <TD align=left width="2%" valign="bottom" height="16"></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom" height="17">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%" valign="bottom" height="17">&nbsp;99,732 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
    width="2%" valign="bottom" height="17"></TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%" valign="bottom" height="17">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%" valign="bottom" height="17">&nbsp;12,357 </TD>
    <TD align=left width="2%" valign="bottom" height="16"></TD></TR>
  <TR>
    <TD bgColor=#ffffff valign="bottom" height="16">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD width="1%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff valign="bottom" height="16">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff valign="bottom" height="16">&nbsp;</TD></TR>
  <TR>
    <TD bgColor=#ffffff valign="bottom" height="15">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD width="1%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff valign="bottom" height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#ffffff valign="bottom" height="15">See accompanying condensed notes to
      consolidated financial statements. </TD>
    <TD align=left width="1%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#ffffff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#ffffff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#ffffff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="1%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD>
    <TD align=left width="10%" bgColor=#ffffff valign="bottom" height="15">&nbsp; </TD>
    <TD align=left width="2%" bgColor=#ffffff valign="bottom" height="15">&nbsp;</TD></TR>
  <TR>
    <TD bgColor=#ffffff height="15">&nbsp; </TD>
    <TD width="1%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff height="15">&nbsp;</TD></TR>
  <TR>
    <TD bgColor=#ffffff height="15">&nbsp; </TD>
    <TD width="1%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="1%" bgColor=#ffffff height="15">&nbsp;</TD>
    <TD width="10%" bgColor=#ffffff height="15">&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff height="15">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD align=center bgColor=#ffffff colSpan=12 height="15">13&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD align=center width="2%" bgColor=#ffffff height="15">&nbsp;</TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>



<A name="page_14"></A>

<P align="justify">
<B><U>Gildan Activewear Inc.- Condensed notes to the consolidated financial statements</U></B><B>
<br>
(Tabular amounts in thousands of U.S. dollars, unless otherwise noted) </B></P>
<P align="justify">
For complete notes to the consolidated financial statements, please refer to the filings with the various securities regulatory authorities dated December 9, 2009. </P>
<TABLE BCLLIST style="font-size:10pt;border-color:black;border-collapse:collapse;" cellpadding="0" cellspacing="0" width="100%" border="0">
<TR>
	<TD width=5% valign=top>
<B>1.</B> 	</TD>
	<TD>
<P align="justify"><B>Statement of earnings classification:</B></P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
<TD width=5%></TD>	<TD>
<P align="justify">Effective the first quarter of fiscal 2009, the Company changed certain classifications of its statement of earnings and comprehensive income with retrospective application to comparative figures presented for prior periods. These
new classifications align the results of operations by function and incorporate presentation requirements under the Canadian Institute of Chartered Accountants (CICA) Handbook Section 3031, <I>Inventories</I>, which has been adopted effective the
first quarter of fiscal 2009. Pursuant to the requirements of Section 3031, depreciation expense related to manufacturing activities is now included in cost of sales. The remaining depreciation and amortization expense has been reclassified to
selling, general and administrative expenses. Depreciation and amortization expense is therefore no longer presented as a separate caption on the statement of earnings and comprehensive income. In addition, the Company reclassified certain other
items in its statement of earnings and comprehensive income. Outbound freight to customers, previously classified within selling, general and administrative expenses, is now reported within cost of sales. Also, a new caption is now presented for
financial expenses and income, which includes interest income and expenses (including mark-to-market adjustments of interest rate swap contracts), foreign exchange gains and losses (including mark-to-market adjustments of forward foreign exchange
contracts), and other financial charges. Interest expense net of interest income was previously reported as a separate caption, while foreign exchange gains and losses were previously included in cost of sales. Other financial charges were
previously reflected in selling, general and administrative expenses. For the year ended October 5, 2008 these changes in classification have resulted in a decrease of &#36;63.8 million and &#36;8.7 million in gross profit and selling, general and
administrative expenses, respectively, compared to the amounts previously reported. The decrease of &#36;63.8 million in gross profit is due to reclassifications of &#36;44.1 million of depreciation and amortization expense, &#36;20.6 million of
outbound freight to customers less &#36;0.9 million of foreign exchange loss and other financial income. There was no impact on net earnings as a result of these changes in classification.</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
<TD width=5%></TD>	<TD>
<P align="justify">For the fourth quarter of fiscal 2008, these changes in classification have resulted in a decrease in amounts previously reported for gross profit of &#36;16.3 million and a decrease of &#36;1.7 million in selling, general and
administrative expenses. The decrease of &#36;16.3 million in gross profit is due to reclassifications of &#36;11.8 million of depreciation and amortization expense, &#36;4.7 million of outbound freight to customers less &#36;0.2 million of foreign
exchange loss and other financial income.</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
	<TD width=5% valign=top>
<B>2.</B> 	</TD>
	<TD>
<P align="justify"><B>Adoption of new accounting policy:</B></P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
<TD width=5%></TD>	<TD>
<P align="justify">In February 2008, Canada&#146;s Accounting Standard&#146;s Board (AcSB) issued CICA Handbook Section 3064, <I>Goodwill and Intangible Assets</I>, replacing Section 3062, <I>Goodwill and Other Intangible Assets</I>, and Section
3450, <I>Research and Development Costs</I>. Section 3064 establishes revised standards for the recognition, measurement, presentation and disclosure of goodwill and intangible assets. The new Section also provides guidance for the treatment of
preproduction and start-up costs and requires that these costs be expensed as incurred. This Section applies to annual financial statements relating to the Company&#146;s fiscal year beginning on October 6, 2008 and has been adopted on a
retrospective basis effective from the first quarter of fiscal 2009.</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
<TD width=5%></TD>	<TD>
<P align="justify">Prior to the adoption of Section 3064, the Company deferred and amortized plant start-up costs on a straight-line basis over two years. The impact of adopting this Section, on a retrospective basis, was an increase of &#36;1.8
million in net earnings for fiscal 2008 (increase of &#36;0.01 in basic and diluted earnings per share). The adoption of this Section also resulted in a decrease of &#36;0.8 million in other assets as at October 5, 2008 and a decrease of &#36;2.5
million in shareholders&#146; equity at October 1, 2007.</P>
	</TD>
</TR>
<TR><TD>&nbsp;</TD><TD>&nbsp;</TD></TR><TR>
<TD width=5%></TD>	<TD>
<P align="justify">The impact of adopting this Section, on a retrospective basis, was an increase of &#36;0.5 million in net earnings for the three months ended October 5, 2008 with no change in the reported basic or diluted earnings per share.</P>
	</TD>
</TR>
</TABLE>
<P align="center">
14<BR>
</P>

<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">

<A name=page_15></A>
<P align=justify><B><U>Gildan Activewear Inc. &#150; Condensed notes to the
consolidated financial statements </U><br>
(Tabular amounts in thousands of
U.S. dollars, unless otherwise noted) </B></P>
<P align=justify><B>3. </B> </P>
<P align=justify style="margin-left: 5%; margin-top: -25.5pt"><B>Restructuring
and other charges:</B> </P>
<div align="right">
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="95%" border=0>

  <TR vAlign=top>
    <TD vAlign=bottom align=left style="border-top-style: solid; border-top-width: 2">&nbsp; </TD>
    <TD vAlign=bottom align=left width="1%" style="border-top-style: solid; border-top-width: 2">&nbsp;</TD>
    <TD vAlign=bottom align=center width="23%" colSpan=4 style="border-top-style: solid; border-top-width: 2"><B>Three months
      ended</B> </TD>
    <TD vAlign=bottom align=left width="2%" style="border-top-style: solid; border-top-width: 2">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" style="border-top-style: solid; border-top-width: 2">&nbsp;</TD>
    <TD vAlign=bottom align=center width="23%" colSpan=4 style="border-top-style: solid; border-top-width: 2"><B>Twelve months
      ended</B> </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>&nbsp; </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">October 4, </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">October 5, </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">October 4, </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">October 5, </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">2009 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">2008 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">2009 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">2008 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgcolor="#E6EFFF">&nbsp; </TD>
    <TD vAlign=bottom width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgcolor="#E6EFFF">&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgcolor="#E6EFFF">&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgcolor="#E6EFFF">&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgcolor="#E6EFFF">&nbsp; </TD>
    <TD width="2%" valign="bottom" bgcolor="#E6EFFF">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgcolor="#E6EFFF">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Loss (gain) on disposal of
      assets held for sale </TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">$</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">&nbsp;34 </TD>
    <TD vAlign=bottom align=left width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">$</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">&nbsp;(160</TD>
    <TD vAlign=bottom align=left width="2%" bgcolor="#E6EFFF">) </TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">$</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">&nbsp;(619</TD>
    <TD vAlign=bottom align=left width="2%" bgcolor="#E6EFFF">) </TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">$</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">&nbsp;(526</TD>
    <TD align=left width="2%" valign="bottom" bgcolor="#E6EFFF">) </TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;&nbsp; Asset impairment loss and
      write-down of assets held for sale </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">374 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">1,000 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">1,595 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">2,700 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgcolor="#E6EFFF">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Employee termination costs and
      other benefits </TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">4 </TD>
    <TD vAlign=bottom align=left width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">(555</TD>
    <TD vAlign=bottom align=left width="2%" bgcolor="#E6EFFF">) </TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">2,103 </TD>
    <TD vAlign=bottom align=left width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">(155</TD>
    <TD align=left width="2%" valign="bottom" bgcolor="#E6EFFF">) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;&nbsp; Carrying and dismantling costs associated with
      assets held for sale </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">366 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">1,275 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">3,120 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">3,470 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left bgcolor="#E6EFFF">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgcolor="#E6EFFF">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgcolor="#E6EFFF">&nbsp;778 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgcolor="#E6EFFF">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgcolor="#E6EFFF">&nbsp;1,560 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgcolor="#E6EFFF">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgcolor="#E6EFFF">&nbsp;6,199 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgcolor="#E6EFFF">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgcolor="#E6EFFF">&nbsp;5,489 </TD>
    <TD align=left width="2%" valign="bottom" bgcolor="#E6EFFF">&nbsp;</TD></TR>
  </TABLE>
</div>
&nbsp;<p><B>4. </B></p>
<p style="margin-left: 5%; margin-top: -25.5pt; margin-bottom:0"><B>Depreciation and
amortization:</B> </p>
<div align="right">
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="95%" border=0>

  <TR>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      width="10%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      width="10%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      width="10%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      width="10%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>&nbsp; </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=center width="23%" colSpan=4><B>Three months ended</B> </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=center width="23%" colSpan=4><B>Twelve months ended</B> </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>&nbsp; </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">October 4, </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">October 5, </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">October 4, </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">October 5, </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">2009 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">2008 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">2009 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">2008 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>&nbsp; </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="10%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">(Recast - </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="10%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">(Recast - </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>&nbsp; </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="10%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">note 2</TD>
    <TD vAlign=bottom align=left width="2%">) </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="10%">&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">note 2</TD>
    <TD align=left width="2%" valign="bottom">) </TD></TR>
  <TR>
    <TD vAlign=bottom bgcolor="#E6EFFF">
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgcolor="#E6EFFF">&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgcolor="#E6EFFF">&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgcolor="#E6EFFF">&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgcolor="#E6EFFF">&nbsp; </TD>
    <TD width="2%" valign="bottom" bgcolor="#E6EFFF">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgcolor="#E6EFFF">
    <p style="text-indent: -15pt; margin-left: 15pt">Depreciation and
    amortization of property, plant and equipment and intangible assets </TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">$</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">&nbsp;16,990 </TD>
    <TD vAlign=bottom align=left width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">$</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">&nbsp;15,240 </TD>
    <TD vAlign=bottom align=left width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">$</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">&nbsp;65,407 </TD>
    <TD vAlign=bottom align=left width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">$</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">&nbsp;57,135 </TD>
    <TD align=left width="2%" valign="bottom" bgcolor="#E6EFFF">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">Adjustment for the
    variation of depreciation of property, plant and equipment included in
    inventories at the beginning and end of the period </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#ffffff>1,828 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#ffffff>(1,334</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#ffffff>(2,437</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#ffffff>(957</TD>
    <TD align=left width="2%" bgColor=#ffffff valign="bottom">) </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#E6EFFF>
    <p style="text-indent: -15pt; margin-left: 15pt">Depreciation and
    amortization included in the consolidated statements of earnings and
    comprehensive income </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#E6EFFF>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#E6EFFF>&nbsp;18,818 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#E6EFFF>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#E6EFFF>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#E6EFFF>&nbsp;13,906 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#E6EFFF>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#E6EFFF>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#E6EFFF>&nbsp;62,970 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#E6EFFF>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#E6EFFF>$</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#E6EFFF>&nbsp;56,178 </TD>
    <TD align=left width="2%" bgColor=#E6EFFF valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=bottom bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; </TD>
    <TD vAlign=bottom width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD vAlign=bottom width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD width="2%" bgColor=#ffffff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp; &nbsp;Consists of: </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="10%" bgColor=#ffffff>&nbsp; </TD>
    <TD align=left width="2%" bgColor=#ffffff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#E6EFFF>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    &nbsp;Depreciation of property, plant and equipment </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#E6EFFF>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#E6EFFF>&nbsp;17,983 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#E6EFFF>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#E6EFFF>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#E6EFFF>&nbsp;13,137 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#E6EFFF>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#E6EFFF>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#E6EFFF>&nbsp;59,571 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#E6EFFF>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#E6EFFF>$</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#E6EFFF>&nbsp;52,887 </TD>
    <TD align=left width="2%" bgColor=#E6EFFF valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    &nbsp;Amortization of intangible assets </TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#ffffff>799 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#ffffff>579 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#ffffff>3,197 </TD>
    <TD vAlign=bottom align=left width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgColor=#ffffff>&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%" bgColor=#ffffff>3,070 </TD>
    <TD align=left width="2%" bgColor=#ffffff valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    bgColor=#E6EFFF>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    &nbsp;Amortization of deferred financing costs and other </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#E6EFFF>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#E6EFFF>36 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#E6EFFF>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#E6EFFF>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#E6EFFF>190 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#E6EFFF>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#E6EFFF>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#E6EFFF>202 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgColor=#E6EFFF>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgColor=#E6EFFF>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgColor=#E6EFFF>221 </TD>
    <TD align=left width="2%" bgColor=#E6EFFF valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    bgColor=#ffffff>
    <p style="text-indent: -15pt; margin-left: 15pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and
    amortization included in the consolidated statements of earnings and
    comprehensive income </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#ffffff>&nbsp;18,818 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#ffffff>&nbsp;13,906 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#ffffff>&nbsp;62,970 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%" bgColor=#ffffff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%" bgColor=#ffffff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%" bgColor=#ffffff>&nbsp;56,178 </TD>
    <TD align=left width="2%" bgColor=#ffffff valign="bottom">&nbsp;</TD></TR>
  </TABLE>
</div>
<p><B>5. </B></p>
<p style="margin-left: 5%; margin-top: -25.5pt"><B>Financial expense (income)
net:</B> </p>
<div align="right">
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="95%" border=0>

  <TR vAlign=top>
    <TD vAlign=bottom align=left style="border-top-style: solid; border-top-width: 2">&nbsp; </TD>
    <TD vAlign=bottom align=left width="1%" style="border-top-style: solid; border-top-width: 2">&nbsp;</TD>
    <TD vAlign=bottom align=center width="23%" colSpan=4 style="border-top-style: solid; border-top-width: 2"><B>Three months
      ended</B> </TD>
    <TD vAlign=bottom align=left width="2%" style="border-top-style: solid; border-top-width: 2">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" style="border-top-style: solid; border-top-width: 2">&nbsp;</TD>
    <TD vAlign=bottom align=center width="23%" colSpan=4 style="border-top-style: solid; border-top-width: 2"><B>Twelve months
      ended</B> </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>&nbsp; </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">October 4, </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">October 5, </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">October 4, </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">October 5, </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">2009 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">2008 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">2009 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%">2008 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left bgcolor="#E6EFFF">&nbsp; &nbsp;Interest expense </TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">$</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">&nbsp;209 </TD>
    <TD vAlign=bottom align=left width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">$</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">&nbsp;1,158 </TD>
    <TD vAlign=bottom align=left width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">$</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">&nbsp;1,824 </TD>
    <TD vAlign=bottom align=left width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%" bgcolor="#E6EFFF">$</TD>
    <TD vAlign=bottom align=right width="10%" bgcolor="#E6EFFF">&nbsp;7,223 </TD>
    <TD align=left width="2%" valign="bottom" bgcolor="#E6EFFF">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD vAlign=bottom align=left>&nbsp; &nbsp;Bank and other financial charges
    </TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">326 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">208 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">1,039 </TD>
    <TD vAlign=bottom align=left width="2%">&nbsp;</TD>
    <TD vAlign=bottom align=left width="1%">&nbsp;</TD>
    <TD vAlign=bottom align=right width="10%">946 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom
      align=left bgcolor="#E6EFFF">&nbsp; &nbsp;Foreign exchange loss (gain) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgcolor="#E6EFFF">465 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgcolor="#E6EFFF">429 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgcolor="#E6EFFF">(3,167</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="2%" bgcolor="#E6EFFF">) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=left
    width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=right
    width="10%" bgcolor="#E6EFFF">1,071 </TD>
    <TD align=left width="2%" valign="bottom" bgcolor="#E6EFFF">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom
      align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;1,000 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;1,795 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;(304</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="2%">) </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=left
    width="1%">$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" vAlign=bottom align=right
    width="10%">&nbsp;9,240 </TD>
    <TD align=left width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD valign="bottom">&nbsp; </TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="10%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="10%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="10%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="10%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR>
    <TD valign="bottom">&nbsp; </TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="10%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="10%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="10%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD>
    <TD width="1%" valign="bottom">&nbsp;</TD>
    <TD width="10%" valign="bottom">&nbsp; </TD>
    <TD width="2%" valign="bottom">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD align=center colSpan=13>&nbsp;15&nbsp;&nbsp;&nbsp; </TD>
    </TR></TABLE>
</div>
<p><BR>
</p>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_16></A>
<P align=justify><B><U>Gildan Activewear Inc. &#150; Condensed notes to the
consolidated financial statements <br>
</U>(Tabular amounts in thousands of
U.S. dollars, unless otherwise noted) </B></P>
<P align=justify><B>6. </B> </P>
<P align=justify style="margin-left: 5%; margin-top: -25.5pt"><B>Segmented
Sales:</B> </P>
<div align="right">
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="95%" border=0>

  <TR vAlign=top>
    <TD align=left style="border-top-style: solid; border-top-width: 2">&nbsp; </TD>
    <TD align=left width="1%" style="border-top-style: solid; border-top-width: 2" >&nbsp;</TD>
    <TD align=center width="23%" colSpan=4 style="border-top-style: solid; border-top-width: 2"><B>Three months ended</B> </TD>
    <TD align=left width="2%" style="border-top-style: solid; border-top-width: 2" >&nbsp;</TD>
    <TD align=left width="1%" style="border-top-style: solid; border-top-width: 2" >&nbsp;</TD>
    <TD align=center width="23%" colSpan=4 style="border-top-style: solid; border-top-width: 2"><B>Twelve months ended</B> </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">October 4, </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">October 5, </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">October 4, </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">October 5, </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">2009
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">2008
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">2009
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%">2008
    </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>The company has two customers accounting
      for at least 10% of total net sales: </TD>
    <TD align=left width="1%"  bgColor=#e6efff></TD>
    <TD align=left width="10%" bgColor=#e6efff></TD>
    <TD align=left width="2%"  bgColor=#e6efff></TD>
    <TD align=left width="1%"  bgColor=#e6efff></TD>
    <TD align=left width="10%" bgColor=#e6efff></TD>
    <TD align=left width="2%"  bgColor=#e6efff></TD>
    <TD align=left width="1%"  bgColor=#e6efff></TD>
    <TD align=left width="10%" bgColor=#e6efff></TD>
    <TD align=left width="2%"  bgColor=#e6efff></TD>
    <TD align=left width="1%"  bgColor=#e6efff></TD>
    <TD align=left width="10%" bgColor=#e6efff></TD>
    <TD align=left width="2%"  bgColor=#e6efff></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp; &nbsp;Company A </TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">19.9% </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">22.9% </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">18.6% </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >&nbsp;</TD>
    <TD align=right width="10%">23.1% </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
      bgColor=#e6efff>&nbsp; &nbsp; &nbsp; &nbsp;Company B </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff>14.6% </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff>13.4% </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff>15.5% </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff>13.6% </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Net sales were derived from customers
      located in the following geographic areas: </TD>
    <TD align=left width="1%"  bgColor=#e6efff></TD>
    <TD align=left width="10%" bgColor=#e6efff></TD>
    <TD align=left width="2%"  bgColor=#e6efff></TD>
    <TD align=left width="1%"  bgColor=#e6efff></TD>
    <TD align=left width="10%" bgColor=#e6efff></TD>
    <TD align=left width="2%"  bgColor=#e6efff></TD>
    <TD align=left width="1%"  bgColor=#e6efff></TD>
    <TD align=left width="10%" bgColor=#e6efff></TD>
    <TD align=left width="2%"  bgColor=#e6efff></TD>
    <TD align=left width="1%"  bgColor=#e6efff></TD>
    <TD align=left width="10%" bgColor=#e6efff></TD>
    <TD align=left width="2%"  bgColor=#e6efff></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp; &nbsp;United States </TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="10%">&nbsp;272,882 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="10%">&nbsp;292,732 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="10%">&nbsp;939,717 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="10%">&nbsp;1,125,961 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>&nbsp; &nbsp; &nbsp; &nbsp;Canada </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>11,967 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>14,136 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>35,134 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=right width="10%" bgColor=#e6efff>56,353 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;
      &nbsp; &nbsp;Europe and other </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">16,871 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">17,849 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">63,468 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="10%">67,397 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left
      bgColor=#e6efff>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff>&nbsp;301,720 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff>&nbsp;324,717 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff>&nbsp;1,038,319 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
     bgColor=#e6efff>$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right width="10%"
    bgColor=#e6efff>&nbsp;1,249,711 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD>
    <TD width="1%" >&nbsp;</TD>
    <TD width="10%">&nbsp; </TD>
    <TD width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Net sales by major product group: </TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="1%"  bgColor=#e6efff>&nbsp;</TD>
    <TD align=left width="10%" bgColor=#e6efff>&nbsp; </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp; &nbsp;Activewear and underwear </TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="10%">&nbsp;240,781 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="10%">&nbsp;253,031 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="10%">&nbsp;795,535 </TD>
    <TD align=left width="2%" >&nbsp;</TD>
    <TD align=left width="1%" >$</TD>
    <TD align=right width="10%">&nbsp;957,061 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      bgColor=#e6efff>&nbsp; &nbsp; &nbsp; &nbsp;Socks </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>60,939 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>71,686 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>242,784 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="2%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="1%"
     bgColor=#e6efff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="10%"
    bgColor=#e6efff>292,650 </TD>
    <TD align=left width="2%"  bgColor=#e6efff>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%">&nbsp;301,720 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%">&nbsp;324,717 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%">&nbsp;1,038,319 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="2%"
    >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=left width="1%"
    >$</TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=right
      width="10%">&nbsp;1,249,711 </TD>
    <TD align=left width="2%" >&nbsp;</TD></TR></TABLE>
</div>
<P align=center>&nbsp;</P>
<P align=center><I>- 30 -</I><BR></P>
<P align=center>16<BR></P>
<HR align=center width="100%" color=black noShade SIZE=5>

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