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March 2, 2005 Stock Pick: True Religion Apparel, Inc. (TRLG)

Stock Price: $11.56

True Religion Apparel, Inc., through its wholly owned subsidiary Guru Denim, Inc. manufactures, markets, distributes and sells "True Religion Brand Jeans" in the United States, Canada, Mexico, the United Kingdom, Europe, Australia and Japan. True Religion Brand Jeans can be found at Neiman Marcus, Saks Fifth Avenue, Ron Herman, Henri Bendel, Bloomingdales, Nordstrom, Barneys and approximately 300 fashion boutique clothing stores throughout the United States and Canada.

The company is quickly growing its "True Religion" brand throughout the world. Net sales for the most recent quarter were $13.6 million up six-fold from the same period last year. Forward guidance from the company includes full-year sales of $70 to $75 million for 2005. Full year earnings per share is expected to be between $0.57 and $0.61.

TRLG has uptrended from $1.00 and is still not showing any signs at all of slowing. This is a clothing play that still has some legs left, they are still small and have a lot of room to grow their brand.

There are only 20 million shares outstanding. We would not be surprised if TRLG announces a move to a higher exchange in the near future.

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