Sponsors
Billabong ▲ +0.025 | PPR ▲ +1.05 | American Apparel ▲ +0.028 | The Buckle ▲ +0.03 | Columbia ▼ -0.07 | Deckers Outdoor ▲ +0.35 | Dicks ▼ -0.06 | Foot Locker ▲ +0.25 | Genesco ▼ -1.71 | Iconix Brand Group ▲ +0.28 | Jarden Corp ▲ +0.37 | Nordstrom ▼ -0.18 | Luxottica ▲ +0.79 | Nike ▼ -0.10 | Pacific Sunwear ▼ -0.21 | Skullcandy ▼ -0.02 | Sport Chalet - 0 | Urban Outfitters ▲ +0.22 | VF Corp ▲ +0.13 | Quiksilver ▼ -0.01 | Zumiez ▲ +0.38 | Macys ▲ +0.29 | Tillys ▲ +0.01 |
Ticker Sponsor
Professional Services
Friedman Stroffe & Gerard, P.C.

FSG’s Action Sports Practice Group provides legal services to the action sports industry. Our clients include surfers, skiers, snowboarders and skaters, as well as sponsors and leading apparel companies. Our attorneys serve in positions with industry organizations such as the Association of Surfing Professionals. We know your business and can provide full-service legal solutions to meet your organizational needs.

More Professional Services...
Readers Say
The first thing I look at
The first thing I look at

I find Shop-Eat-Surf to be a very useful and informative site that I enjoy browsing daily. Shop-Eat-Surf is the first thing I look at every morning to keep up-to-date on the latest talk, events, and happenings in the industry. I must say I am a fan of Shop-Eat-Surf.

- By Bobby Abdel, Partner, Jack's Surfboards
Great insight into the issues
Great insight into the issues

I am a big fan of Tiffany and her team as well as an avid reader of Shop-Eat-Surf. I shop, I eat, I surf -- I should pay.

- By Kevin Bailey, President, Vans
Industry Insight

STOKES ME: Deadline is Friday to enter SIMA Humanitarian Fund's Bowl-a-thon fundraiser.

SURFRIDER: Celebrating 30 years.

Details on Industry Insight.


Tiffany Montgomery
Print This Article

Volcom Q1 net income falls

By Tiffany Montgomery
May 03, 2011 1:58 PM

Volcom’s first quarter revenue came in higher than the company had forecast and earnings per share hit the top end of the estimate it had provided at the end of February.

 

However, net income was well below the same period last year.

 

The company reported this afternoon that total revenue for the quarter ended March 31 increased 13% to $87.1 million. Volcom had forecast a 7% to 11% increase in revenue.

 

Net income declined 39% to $4.6 million, and earnings per share totaled 19 cents. The company had forecast earnings per share in the 16 cents to 19 cents range.

 

Gross margin: 50% vs. 54.2% the same period last year

 

SG&A: up 18% to $36.6 million

 

Cash, equivalents and short-term investments: $91.4 million

 

Because of the news announced yesterday that PPR is bidding to buy Volcom, Volcom did not host a conference call to discuss results.

 

U.S. segment 

Revenue: up 4.4% to $50.3 million

 

Gross profit: $23.7 million, down 2%

 

Europe segment

Revenue: up 5.1% to $24.8 million

 

Gross profit: down 4.8% to $13.6 million

 

Electric segment 

Revenue: up 23.2% to $6.9 million

 

Gross profit: up 15% to $4 million

 

Australia segment (which Volcom recently brought in house)

Revenue: $5.2 million

 

 

 

 

 

 


More on: Volcom, earnings

Articles You Might Have Missed