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Volcom reports financial results for 2011 first quarter
04
May '11
Volcom Inc announced financial results for the first quarter ended March 31, 2011.

For the 2011 first quarter, total consolidated revenues increased 13% to $87.1 million, compared with $77.4 million in the first quarter of 2010. Total revenues in the company's U.S. segment were $50.3 million, compared with $48.2 million in the prior-year period. Total revenues in the company's Europe segment were $24.8 million, compared with $23.6 million in the same period in 2010. Total revenues in the company's Electric segment were $6.9 million, compared with $5.6 million in 2010. Total revenues in the company's Australia segment were $5.2 million.

Consolidated gross profit for the 2011 first quarter was $43.6 million, equal to 50% of total revenues, compared with $42.0 million, equal to 54.2% of total revenues, in the first quarter of 2010.

Selling, general and administrative expenses on a consolidated basis were $36.6 million in the 2011 first quarter versus $31.0 million in the comparable period in 2010.

Net income for the 2011 first quarter was $4.6 million, or $0.19 per diluted share, compared with $7.5 million, or $0.31 per diluted share, in the first quarter of 2010.

At March 31, 2011 the company had cash, cash equivalents and short-term investments totaling $91.4 million, and no long-term debt. Total stockholders' equity was $225.0 million at year-end.

Volcom Inc

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