Expectations Too High for Volcom?
Clothing-for-youth culture designer/marketer Volcom (VLCM) reported decent numbers after the close, but got nailed nevertheless.Total revenues for the full year 2005 increased 41.3% to $160.0 million from $113.2 million in 2004. Gross profit as a percentage of total revenues increased to 50.8% for 2005 from 48.6% in 2004.
"Volcom has become a premier international action sports brand, and our financial results for 2005 are testament to the strength of our company and our ability to remain connected to our core consumer base," said Richard Woolcott, Volcom's CEO.
After hours traders weren't buying it for one minute -- the stock is down a violent 13%.
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