The Vernon, California based company posted a third quarter net income of $15.4 million up from $8.8 million in the prior year.
"Our continued out-performance serves as a testament to our commitment to continuously innovate and evolve our merchandise in a manner that resonates with consumers," True Religion chief executive officer Jeff Lubell said.
"Key to building towards True Religion's goal to be a global, aspirational brand will be further expanding our assortment of denim and denim-related sportswear products, continuing to evolve our channels of distribution and increasing our presence in key international markets."
True Religion upped its high-end guidance for the fiscal year to $265 million, up from last-reported estimates of $247 million. In June, executives had estimated 2008 revenue at $220 million to $225 million. The company currently operates with no debt and has $55.8 million cash in hand.
During the 2008 third quarter, True Religion opened six new stores, bringing its total store count at the end of the third quarter to 36 stores compared to 13 stores at the end of the 2007 third quarter. As of November 6, 2008, the company has opened three additional stores bringing the total store count to 39 stores.
