Volcom profit, outlook down
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From Times Wire Reports
Surf-wear maker Volcom Inc. posted lower quarterly profit and slashed its full-year outlook.
The company said second-quarter net income fell to $4.8 million, or 20 cents a share, from $6.2 million, or 25 cents, a year earlier. Revenue increased 26% to $72.5 million.
The Costa Mesa company trimmed 6 cents a share from its earnings forecast this year to $1.50 to $1.53 a share.
Volcom shares fell to $20 in late trading after closing at $22.06, down $1.54, before the earnings news.
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