Volcom to acquire 10 outlet stores

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