Sporting goods, apparel and footwear manufacturer Everlast Worldwide Inc. has posted improved financial results for the first quarter ended March 31.

Net revenues increased 20% to $10 million compared with $8.3 million in the same period in 2005. Growth in net revenue resulted from a 33% increase in sporting goods sales to a record $7 million, the second consecutive quarter of more than 30% year-over-year sales growth.

Net licensing revenues for the first quarter of 2006 were $3 million compared with $3.1 million in the same period a year ago. Everlast's net licensing revenues were impacted by the company's decision not to renew its previous footwear license that was allowed to expire in December 2005, as well as an increase in licensing commissions resulting from the litigation settlement which requires the company to pay commissions to the former agent of Everlast during 2006.