VERNON, Calif.—Jeans maker True Religion Apparel Inc. on Thursday raised its 2008 guidance after the company posted strong first-quarter results that were boosted by a jump in sales.
The news sent True Religion shares up 99 cents, or 5.1 percent, to $20.50 in aftermarket trading, after rising 49 cents, or 2.6 percent, to $19.51 in the regular session.
True Religion said it now expects to post a 2008 profit of $1.52 to $1.56 per share, up from its previous guidance of $1.48 to $1.52 per share.
Analysts polled by Thomson Financial expect a profit of $1.51 per share for the year.
The company also boosted its 2008 sales prediction to a range of $220 million to $225 million, from its previous estimate of $210 million to $215 million.
Analysts, on average, expect sales of $214.2 million for the year.
