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Tiffany Montgomery
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Volcom to acquire 10 outlet stores

By Tiffany Montgomery
February 24, 2011 1:21 PM

Volcom said in its earnings press release this afternoon that it is acquiring 10 Volcom outlet stores from a licensee.

 

Terms of the deal were not disclosed. The outlet stores are in California, Nevada, Washington and Utah.

 

The company also released financial results for the fourth quarter and full year.

 

Here is a quick summary. Click here to read the full release.

 

Fourth Quarter

Total revenue: up 22.4% to $78.6 million

 

Gross margin: 45% vs. 49.2% the same period last year

 

SG&A: $34 million vs. $28.1 million

 

Net income: down 53% to $1.6 million

 

Cash and equivalents: $90.3 million

 

Long term debt: none

 

2010

Total revenue: up 15.2% to $323.2 million

 

Electric revenue: up 30.3% to $27.5 million

 

Net income: up 2.5% to $22.3 million

 

Q1 Forecast

Revenue: up 7% to 11% to $83 million to $86 million

 

EPS: 16 cents to 19 cents

 

2011 Forecast

Revenue: up 13% to 15% to $366 million to $371 million

 

EPS: $1.08 to $1.14

 

 

 


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