True Religion raises fiscal 2008 outlook

VERNON, Calif. - Jeans maker True Religion Apparel Inc. on Thursday raised its outlook for the rest of fiscal 2008, based on its performance so far this year.

The company said it now expects earnings per share of $1.78 this year, up from a previous range of $1.61 to $1.65. It said net sales are expected to be $265 million, up from its previous guidance of a range of $242 million to $247 million.

The guidance means earnings per share and sales will increase 53 percent over last year.

Analysts are predicting the jeans maker earns $1.65 per share in fiscal 2008 on revenue of $247.8 million, according to Thomson Reuters.

The company said Thursday its third-quarter profit nearly doubled as sales of its jeans grew domestically, overseas and online.

It said it would issue guidance for fiscal year 2009 when it reports fourth-quarter earnings.

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