• Q1 net income soared 201% to $19.6m
  • Revenues increased 69.3% to $138.3m
  • Same-store sales rose 35%

Yoga and workout wear company Lululemon Athletica Inc has revised its outlook for the year after surging sales led to a tripling of its first quarter profit.

"This was our company's best-ever first quarter as we were able to generate very strong same store sales growth in both the US and Canada," said CEO Christine Day.

Net income in the three months to 2 May soared 201% to $19.6m or $0.27 per share, up from $6.5m or $0.09 per share a year ago.

Revenues increased 69.3% to $138.3m from $81.7m. Sales at company-owned stores were $115.6m for the quarter, an increase of 58.5% over last year's $72.9m, while same-store sales rose 35%.

Gross profit for the quarter increased by 112.3% to $74.4m, and as a percentage of net revenue gross profit increased to 53.8% for the quarter from 42.9% in the first quarter of fiscal 2009.

Lululemon now expects second-quarter revenues of between $140m and $145m, and earnings per share of $0.21 to $0.23.

For the full year, the company sees revenues of $620m to $635m and earnings per share ranging from $1.05 to $1.10.