According to Investerms :
Volcom, Inc. (NASDAQ: VLCM) shares are soaring more than 25% midday Thursday on practically five times trading volume after first quarter results and an analyst price target upgrade.
The California-based clothing and accessory maker that sells products under the brand Volcom has added more than $100 million in market capitalization after reporting a 70.4% increase in first quarter net income. Net income rose to $9.3 million, or 38 cents per share, from $5.5 million, or 22 cents per share, on a 58.5% increase in revenues. Even with this drastic sales growth, Volcom managed to increase gross profit slightly to 52.4% from 52%.
Sometimes we’re glad we don’t own Volcom stock, and other times (like today) we’re bummed.
[Link: Investerms]
