Gildan's Tax Avoidance

When we looked at Spark Networks' glowing P/E, we noticed that it was due in large part to a huge tax benefit due to past operating losses. Since this tax benefit would not occur in the future, the company's current net income had to be discounted by a tax rate in order to determine the company's true earning power going forward. For Gildan Activewear (GIL), we see similarly suspicious earnings after taxes: