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Non-Tech : True Religion Apparel Inc

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From: - with a K	12/7/2005 11:06:01 PM
	of 189

From new Yahoo Board: "We Are At The Starting Line" by: canaryloveskfx Long-Term Sentiment: Strong Buy 12/07/05 01:19 pm Msg: 744 of 805 For anyone that doubts that TRLG is undervalued at these levels, here are the highlights from the Q3 conference call -non denim 15% of rev in Q3 vs. 12% in Q2 -30% of rev in Q3 from Japan -176% growth in international rev from 2Q - 3Q /1500 doors in 2005 growing to 2000 in 2006 -entering 10 new countries in 2006 including China/ none of this revenue is in 2006 projections -average selling price $85 in Q3 vs $81/$79 in Q2/Q1 they are seeing no pressure on margins -Super T bottoms start to ship in Q4. They have very high expectations for this new style-denin bottoms accounted for 85% of rev in Q4 -They expect the addition of new fleece line to do $10 million or more in 2006 -expect a denim/non-denim split of 75%/25% in 2006 -Opening first store in Manhattan Beach 12/05 -at least three stores planned in 2006 starting w/ NYC, Vegas and SF -looking at several licensing deals w/top tier brands in several categories -expect less competition in 2006 -stated several times that their guidance is very conservative/underpromise-overdeliver -looking to outperform Q4 guidance -backlog thru March/April 2006 -2006 rev projection 53% US/25% Japan/25% rest of world -expect 100% plus growth internationally in 2006 -introducing cashmere sweaters in 2006 -accrued all year end bonuses/other expenses in Q3 which should be positive for Q4 earnings. -operating margins in Q3 would have been 40% without accrued expenses -10 million of cash on the balance sheet and no debt -department store orders are increasing -CEO says "We are at the starting line not the finish line" I believe the cc is still on thier web site. For what it's worth, I think their 2006 guidance of $132 million in revenue and $1.17 per share in earnings is ridiculously low as it represents only about a 30% increase from 2005. I am optimistically expecting to see between 50% and 100% growth next year.

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