By  on March 17, 2009

Following a crucial $80 million cash infusion from London-based Lion Capital on Friday, American Apparel Inc. reported solid fourth-quarter results on Tuesday morning.

Net income for the three months ended Dec. 31 was up 29.7 percent to $3.9 million, or 5 cents a diluted share, from $3 million, or 6 cents, in the year-ago period. Earnings per share diverged from net income because the company had 71.6 million diluted shares outstanding in the 2008 quarter versus 52.5 million in the 2007 quarter.

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