Sponsors
Billabong ▼ -0.010 | PPR ▼ -1.15 | American Apparel ▼ -0.01 | The Buckle ▼ -0.03 | Columbia ▼ -0.06 | Deckers Outdoor ▼ -0.27 | Dicks ▲ +0.57 | Foot Locker ▲ +0.39 | Genesco ▲ +0.32 | Iconix Brand Group ▼ -0.15 | Jarden Corp ▼ -0.10 | Nordstrom ▲ +0.87 | Luxottica ▼ -2.19 | Nike ▲ +0.34 | Pacific Sunwear ▲ +0.05 | Skullcandy ▲ +0.30 | Sport Chalet - 0 | Urban Outfitters ▲ +0.32 | VF Corp ▲ +0.63 | Quiksilver ▼ -0.07 | Zumiez ▼ -0.01 | Macys ▲ +1.33 | Tillys ▼ -0.04 |
Ticker Sponsor
Readers Say
It pertains to my business
It pertains to my business

I’m an avid reader of Shop-Eat-Surf because it’s really the only online newsletter that I have found that is not only industry related, but also because it’s not so “guy-centric.” I find that a lot of the information I read on the site pertains to my business (as a swimwear designer) and keeps me up to date on what other companies and other women in the industry in general are doing which is not only inspiring but also helps me gauge the future direction of my business as well.

I feel privileged to read the Executive Edition because I know I am getting insider industry information before it hits the mainstream media channels. And it’s always good to know what my friends are up to in the industry.

- By Monica Wise, Founder, L*Space
Useful on a daily basis
Useful on a daily basis

It's well balanced information that is useful on a daily basis. I'm very satisfied with the Executive Edition. I start each day with SES and a big cup of coffee!

- By Tom Ruiz, EVP Sales, Volcom
Industry Insight

KNOWSHOW: Video recaps from the Vancouver trade show.

MOSS ADAMS CAPITAL: Geofrey Haydon on the deal that saw the owner of Royal Robbins invest in Evolv.

Details on Industry Insight.


Tiffany Montgomery
Print This Article

Volcom reports 2010 third quarter financial results

By
October 28, 2010 1:07 PM

Press Release:

 

Consolidated Revenues Increased 11.4% to $104.7 Million

 

U.S. Segment Revenue Grows 13.6% to $64.5 Million; E

 

Electric Segment Rises 29.2% to $8.9 Million Company

 

Declares Special Cash Dividend of $1.00 Per Share

 

COSTA MESA, Calif.--(BUSINESS WIRE)--Volcom, Inc. (NASDAQ: VLCM) today announced financial results for the third quarter ended September 30, 2010.

 

For the 2010 third quarter, total consolidated revenues were $104.7 million, compared with $93.9 million in the third quarter of 2009.

 

Total revenues in the company’s U.S. segment, which includes revenues from the U.S., Canada, Japan and most other international territories outside of Europe, as well as the company’s branded retail stores, were $64.5 million, compared with $56.8 million in the prior-year period.

 

Total revenues in the company’s Europe segment were $28.7 million, compared with $30.2 million in the same period in 2009.

 

Total revenues in the company’s Electric segment were $8.9 million, compared with $6.9 million in 2009. Total revenues in the company’s Australia segment were $2.6 million.

 

“Our results for the third quarter are in line with our plan and reinforce our strategy to gain market share on a global level,” said Richard Woolcott, Volcom’s chairman and chief executive officer.

 

“During the first nine-months of this year, we have experienced solid revenue growth in our mens and boys categories, and our business with our core retailers remains very healthy.

 

"In other activities, we have launched major branding initiatives, acquired our Australian licensee, acquired distribution operations in Spain, and launched our e-commerce business. We are encouraged by the momentum thus far and I am proud of our team’s focus and dedication to building Volcom into a world brand.”

 

Woolcott also noted that given the company’s continued cash flow from operations, strong balance sheet and no long-term debt, Volcom’s Board of Directors has determined that a special cash dividend was appropriate and supports the company’s commitment to providing shareholder value.

 

Consolidated gross profit for the 2010 third quarter was $51.9 million, equal to 49.6% of total revenues, compared with $48.5 million, equal to 51.6% of total revenues, in the third quarter of 2009.

 

Selling, general and administrative expenses on a consolidated basis were $33.9 million in the 2010 third quarter versus $28.8 million in the comparable period in 2009.

 

On page 2: Volcom's full earnings release, special dividend information and Q4 outlook

 

 

Previous 1 2 Next

Articles You Might Have Missed