True Religion 1Q profit soars on surge in sales

The company also boosted its 2008 guidance, sending its shares up 99 cents, or 5.1 percent, to $20.50 in aftermarket trading, after rising 49 cents, or 2.6 percent, to close at $19.51 in the regular session.

For the quarter ended March 31, True Religion earned $6.9 million, or 29 cents per share, compared with $5.2 million, or 22 cents per share, for the same quarter in 2007.

Total sales soared 47 percent to $53.4 million from $36.2 million in the year-ago period.

Analysts polled by Thomson Financial expected a profit of 26 cents per share on $46.1 million in sales.

True Religion officials credited the strong sales increase to positive consumer reaction to the company's spring collection.

Net sales in the company's U.S. wholesale segment rose 30 percent to $32.5 million, while international wholesale sales jumped 29 percent to $8.9 million.

Sales at the consumer direct segment, which includes True Religion's branded retail stores and e-commerce site, nearly doubled to $11.8 million.