Volcom Q2 Revenue Down 25 Percent

by The Editors on July 30, 2009

Volcom-Stone-LogojpgVolcom reportedly their Q2 2009 financial results today and things weren’t that great, according to the press release on Fox Business.

For the 2009 second quarter, total consolidated revenues were $54.2 million compared with $72.5 million in the second quarter of 2008. . . 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 $43.6 million compared with $60.2 million in the prior-year period.

Wooly did what he could with the spin.

“Despite the continued macro economic challenges in the second quarter, our focus and drive to maintain the strength of the Volcom brand is resolute and propelled by our high quality and innovative products,” said Richard Woolcott, Volcom’s chairman and chief executive officer. “Our global presence is stronger than ever, and that, coupled with the sound management of our balance sheet, uniquely provides us with the solid foundation to position our company as a leader in the action sports industry.”

Still, the company has no “significant debt” and around $96.2 million in cash, cash equivalents and short-term investments. And the really great news: analysts were expecting a $.02 per share loss and the company came in at a $0.04 cents per share profits, according to Reuters. So they have that going for them.

[Link: Fox Business and Reuters]

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