True Religion Apparel Inc. (TRLG: Quote) Tuesday reported an increase in profit for the second quarter, due mainly to higher revenues.
The Vernon, California-based company's attributable net profit for the second quarter was $9.78 million or $0.39 per share, compared to $9.43 million or $0.38 per share last year. On average, seven analysts polled by Thomson Reuters expected the company to earn $0.35 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 6.8 percent to $104.91 million from $98.26 million in the prior-year quarter. Six analysts had a consensus revenue estimate of $107.31 million for the quarter.
Looking ahead, the company expects full-year 2012 net income in the range of $1.80 to $1.86 per share. Revenues for the year are anticipated in the range of $450 million to $455 million. Analysts currently expect the company to earn $1.97 per share for the year, with revenues of $467.84 million.
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by RTT Staff Writer
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