Volcom Earnings: Current Liabilities are Dropping
Rising costs did not help Volcom, Inc. (NASDAQ:VLCM) in the first quarter as profit dropped from a year earlier. Volcom, Inc. is a designer, marketer and distributor of young men’s and young women’s clothing, footwear, accessories and related products under the Volcom brand name.
Volcom Earnings Cheat Sheet for the First Quarter
Results: Net income for the footwear and apparel company fell to $4.6 million (19 cents/share) vs. $7.5 million (31 cents/share) a year earlier. A decline of 38.8% from the year earlier quarter.
Revenue: Rose 12.6% to $87.1 million YoY.
Actual vs. Wall St. Expectations: VLCM fell in line with the mean analyst estimate of 19 cents/share. Estimates ranged from 17 cents per share to 21 cents per share.
The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 15%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 22.4% from the year earlier quarter.
From the fourth quarter of the last fiscal year, the company’s current liabilities fell to $28.8 million from $39.1 million.
Net income has dropped 21.2% year over year on average across the last five quarters. Performance was hurt by a 92.2% decline in the second quarter of the last fiscal year from the year earlier quarter.
Competitors to Watch: Quiksilver, Inc. (NYSE:ZQK), Perry Ellis Intl., Inc. (NASDAQ:PERY), NIKE, Inc. (NYSE:NKE), Liwe Espanola SA (NASDAQ:LIWA), Zumiez (NASDAQ:ZUMZ), and Guararapes Confeccoes SA (GUAR3)
Stock Performance: Shares of VLCM are up 0.08 percent to $24.40 in after hours trading.