Sponsors
Billabong ▲ +0.005 | PPR ▼ -7.45 | American Apparel ▼ -0.007 | The Buckle ▼ -0.26 | Columbia ▲ +0.02 | Deckers Outdoor ▼ -2.73 | Dicks ▼ -0.30 | Foot Locker ▼ -0.28 | Genesco ▼ -0.20 | Iconix Brand Group ▼ -0.23 | Jarden Corp ▲ +0.60 | Nordstrom ▼ -0.48 | Luxottica ▼ -0.38 | Nike ▲ +0.28 | Pacific Sunwear ▼ -0.12 | Skullcandy ▼ -0.05 | Sport Chalet - 0 | Urban Outfitters ▼ -0.44 | VF Corp ▲ +0.41 | Quiksilver ▲ +0.05 | Zumiez ▼ -0.75 | Macys ▼ -0.35 | Tillys ▼ -0.12 |
Ticker Sponsor
Readers Say
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
Since the inception of Executive Edition, I only need 1 stop
Since the inception of Executive Edition, I only need 1 stop

As a retailer in the surf industry for the past 21 years, I have had to use multiple sources to stay informed to the news within surf. Since the inception of the Executive Edition of Shop-Eat-Surf.com, I need only one stop. Thanks for providing such a valuable tool to all of us in the industry. Shop-Eat-Surf is a must read for all of our staff at Maui Nix.

- By George Karamitos, CEO, Maui Nix
Industry Insight

SIA: State of the snow industry videos. TAYLOR DIGITAL: Website tools to increase sales.

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