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Rising denim demand push True Religion's Q4 sales up 88%

16
Mar '06

Denim maker True Religion Apparel Inc announced results for the fourth quarter of fiscal 2005.

For the three month period ended December 31, 2005, net sales increased 88 percent to $25.5 million compared to $13.6 million in the fiscal fourth quarter of the prior year.

Excluding a one-time, non-cash charge for a proposed legal settlement of $2.2 million, or $0.06 per diluted share net of tax, net income increased 100 percent to $5.0 million, or $0.22 per diluted share compared to the year-ago level of $2.5 million, or $0.12 per diluted share.

Including the one-time charge, diluted earnings per share for the fiscal fourth quarter were $0.16.

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True Religion Apparel Inc, through its wholly owned subsidiary Guru Denim, Inc manufactures, markets, distributes and sells "True Religion Brand Jeans" in the United States, Japan, Canada, Mexico, the United Kingdom, Europe, South Africa and Australia.

True Religion Brand Jeans can be found at Nordstrom, Neiman Marcus, Saks Fifth Avenue, Bloomingdales, Barney's, Urban Outfitters, Ron Herman, Henri Bendel, and approximately 600 fashion boutique clothing stores throughout the United States and Canada.

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