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Reuters
Published
May 5, 2009
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True Religion first quarter profit rises; shares up

By
Reuters
Published
May 5, 2009

May 5 (Reuters) - Premium jeans brand True Religion Apparel Inc's (TRLG.O) quarterly profit rose 10 percent, as its consumer direct and international segments shored up its revenue base, and it also backed its outlook for the year.


True Religion Apparel Inc

For the first quarter, the company earned $7.6 million, or 32 cents a share, compared with a profit of $6.9 million, or 29 cents a share, a year earlier.

Net sales rose 19 percent to $63.6 million.

Sales at its consumer direct segment, which includes branded retail stores and e-commerce site, soared about 96 percent to $23.1 million, while international segment chipped in with a 26 percent rise in sales at $11.2 million.

Analysts were expecting the company to earn 29 cents a share, before special items, on revenue of $59.2 million, according to Reuters Estimates.

Shares of the Vernon, California-based company rose to $18.82 in trading after the bell. They had closed at $17.80 Tuesday in regular Nasdaq trade. (Reporting by Sumedha Mukherjee in Bangalore; Editing by Anil D'Silva)

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