(Filed Under Financial and General Interest News). Strong shapewear sales boosted Maidenform Brands, Inc.’s first quarter results, including a 19.9 percent increase in profits.

The New Jersey-based intimate apparel company reported a net income of $14.5 million, or 62 cents a share, beating analysts’ estimates of 57 cents a share. Last year’s first quarter income was $12.1 million, or 51 cents a share. Sales rose 14.4 percent to $136.6 million from last year’s $142.9 million.

National chain sales rose 8.5 percent in the quarter, with international sales rising 27.9 percent and sales to the mass channel gaining 31.5 percent.

"These results complete our ninth consecutive quarter of increased sales for Maidenform, a trend we intend to continue as we leverage our products globally to extend the reach of our brands and deliver profitable growth for our shareholders," Maidenform Chief Executive Officer Maurice Reznik said in a statement.

Based on these results, Maidenform raised its sales forecast for the year. The company previously expected 2011 sales to rise in the mid-single-digit range, but now projects sales increasing in the high single digits percentage.

Maidenform Brands, Inc. sells its apparel through brands including Bodymates, Control It!, Charmed, Flexees, Lilyette, Rendezvous, Subtract and Sweet Nothings.

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Published 05-25-2011 by Katherine Rautenberg