PSD renditions produces 3 different renditions

[ddes0380]

Hi,
We are getting 3 different renditions for a single PSD file with the following command:
imconvert <input filename>.psd -resize 480x384^> -colorspace rgb -density 480x384 <output filename>.jpg
whereas the same command produces correct results for TIF images.
Can anybody explain why this could be happening?

[dlemstra]

When you read a PSD file it will create a 'composite' image and all the layers of that image. If you only want to get the composite image you should use <input filename>.psd[0] instead.