By  on November 11, 2008

American Apparel Inc.’s third-quarter profits narrowed because of merger-related stock compensation, but the Los Angeles-based company reaffirmed its full-year guidance.

For the quarter ended Sept. 30, net income slid to $2.3 million, or 3 cents a diluted share, versus $6 million, or 12 cents a share, a year ago. Net sales were up 45.2 percent to $154.8 million, from $106.6 million.

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