• Third quarter net sales increased 16%
  • Gross margins remained at 49%
  • Operating income increased 22%

US denim firm Joe's Jeans reported third quarter net income of US$1,9m, from $1.8m in the prior year period, as strong margins remained.

The company said that for the third quarter overall net sales were $21.2m compared to $18.2m in the prior year period - a 16% increase.

Marc Crossman, president and CEO, said: "We are pleased with our performance for the quarter with essentially all of our distribution channels, namely domestic women's, domestic men's, licensing, and retail, experiencing sales increases."

Gross profit for the third quarter of fiscal 2009 was $10.4m compared to $9.0m, a 16% increase.

For the third quarter of fiscal 2009, gross margins were consistent at 49%.

SG&A expenses during the third quarter of fiscal 2009 were $7.4m compared to $6.5m in the third quarter of fiscal 2008, a 13% increase.

Click here to view the company's full third quarter financial release.