Premium denim apparel vendor True Religion Apparel Inc.’s 75.6 percent leap in third-quarter profits blew past analysts’ estimates and prompted an increase in its full-year guidance.
For the quarter ended Sept. 30, the jeans and sportswear marketer reported net income of $15.4 million, or 64 cents a diluted share, compared with $8.8 million, or 37 cents a share, in the same year-ago period. Net sales were up 63.9 percent to $79.4 million, from $48.4 million. Analysts polled by Yahoo expected earning per share of 47 cents on sales of $65.8 million.
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