Home / Knowledge / News / Apparel/Garments / Volcom reports hike in Q2 revenues
Volcom reports hike in Q2 revenues
04
Aug '10
Volcom, Inc. announced financial results for the second quarter ended June 30, 2010.

For the 2010 second quarter, total consolidated revenues were $62.5 million, compared with $54.2 million in the second quarter of 2009. Total revenues in the company's U.S. segment, which includes revenues from the U.S., Canada, Japan and most other international territories outside of Europe, as well as the company's branded retail stores, were $50.8 million, compared with $43.6 million in the prior-year period.

Total revenues in the company's Europe segment were $5.1 million, compared with $5.9 million in the same period in 2009. Total revenues in the company's Electric segment were $6.6 million, compared with $4.7 million in 2009.

“On a consolidated basis, our business in the second quarter was right in line with our plan,” said Richard Woolcott, Volcom's chairman and chief executive officer. “The strength of the Volcom and Electric brands is clearly evident, and there is good momentum underway. Our teams are working hard to maximize every opportunity and align the company to continue to gain market share. I am very pleased with Volcom's current position and believe we are on track to achieve our short and long term goals.”

Consolidated gross profit for the 2010 second quarter was $29.8 million, equal to 47.7% of total revenues, compared with $26.4 million, equal to 48.6% of total revenues, in the second quarter of 2009.

Selling, general and administrative expenses on a consolidated basis were $29.8 million in the 2010 second quarter versus $25.9 million in the comparable period in 2009.

Net income for the 2010 second quarter was $68,000, or breakeven per diluted share, compared with $872,000, or $0.04 per diluted share, in the second quarter of 2009.

At June 30, 2010 the company had cash, cash equivalents and short-term investments totaling $110 million, and no long-term debt.

2010 Third Quarter Financial Outlook

For the 2010 third quarter, the company currently expects total consolidated revenues of approximately $102 million to $105 million and fully diluted earnings per share amounts to range of $0.47 to $0.51.

Volcom Inc


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search