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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



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




More on: Volcom, earnings

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