UPDATE 2-True Religion Q1 profit rises; shares up
* Q1 profit up 10 pct, while sales jump 19 pct
* Backs full-year outlook
* Shares up 7 pct in after-hours trade
(Adds conference call details)
May 5 (Reuters) - Premium jeans brand True Religion Apparel Inc's (TRLG.O) quarterly profit rose 10 percent, as its consumer direct and international segments shored up its revenue base, and it also backed its outlook for the year.
On a conference call, Chief Executive Jeffrey Lubell said the company had increased its cash balance by $19.3 million to $76.5 million in the first quarter and carried no debt ahead.
The company, which sells specially-styled denims and sportswear, said there was increased demand for its latest styles among its international clientele.
"In spite of the strength of the U.S dollar versus key foreign currencies, we experienced strong growth in key Asian, European and North American Markets," President Michael Buckley said.
"Our Japanese business performed ahead of plan in the first quarter lead by increased penetration of True Religion brand jeans and existing wholesale accounts." Continued...



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