Volcom revenues rise 15%, profits drop

Volcom released financial results for the quarter ended June 30 today.

Here is a summary of the results. All comparisions are vs. the same quarter last year.

Total Revenue: $62.5 million, up 15.3 %

U.S. Revenue: $50.8 million, up 16.5%

Europe Revenue: $5.1 million, down 13.5%

Electric Revenue: $6.6 million, up 40.4%

SG&A: $29.8 million, up 15%

Gross profit margin: 47.7%

Net Income: $68,000, down 92.2%

Cash, equivalents and short-term investments: $110 million

Long-term debt: none

Guidance: Revenues between $102 million to $105 million, earnings per share of 47 cents to 51 cents.