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True Religion Apparel foresees higher revenues in Q3

11 Oct '05
2 min read

True Religion Brand Jeans seller True Religion Apparel Inc announced that, based on preliminary results, it anticipates higher revenues and diluted earnings per share in its fiscal third quarter ended September 30, 2005 as compared to third quarter guidance originally provided on July 28, 2005.

- Expresses Comfort with 4Q05 Analyst Consensus Estimates of $24.3 Million and Diluted EPS of $0.20

- Reporting Date for Fiscal Third Quarter 2005 Results Set for November 10th

Revenues are expected to be approximately $35.0 million and diluted earnings per share are expected to be in the range of $0.29 to $0.30. This compares to original guidance of $29 to $30 million and diluted earnings per share in the range of $0.22 to $0.24. The Company also stated that it is currently comfortable with fourth quarter analyst consensus estimates of revenues of approximately $24.3 million and diluted earnings per share of $0.20.

Commenting on the preliminary results for the third quarter, President and Chief Executive Officer, Jeff Lubell said that demand for the True Religion brand in the third quarter remained exceptionally strong in both their domestic and international markets.

The business with upscale department stores was better than expected as their retail customers prepared for the holiday season and their international business continued to gain sales momentum throughout the quarter. The global appeal of their brand continues to grow and the breadth of their product line continues to expand resulting in promising opportunities ahead for their business.

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