Volcom posts 4th-quarter profit above Street; revenue declines

Volcom posts 4Q profit above expectations

COSTA MESA, Calif. — Clothing maker Volcom Inc. posted a fourth-quarter profit Thursday, reversing a loss a year earlier that was weighed by charges.

The company earned $3.4 million, or 14 cents per share, compared to a loss of $8.7 million, or 36 cents per share, in the same period a year earlier.

The year-ago results include an impairment charge of $16.2 million, or about 46 cents per share.

Revenue fell 8 percent to $64.2 million from $69.6 million.

Analysts, on average, were expecting a profit of 4 cents per share on sales of $62.8 million, according to a poll by Thomson Reuters.

For the first quarter, the company said it expects earnings of 16 cents to 19 cents per share on sales of $71 million to $74 million. Analysts are predicting earnings of 17 cents per share on sales of $69.1 million.

Volcom reported full-year earnings of $21.7 million, or 89 cents per share, flat compared with the prior year.

Revenue fell 16 percent to $280.6 million from $334.3 million.

Shares rose 70 cents, or 4.5 percent, to $16.36 in after-hours trading. The stock had closed up 19 cents at $15.66.

Volcom makes clothes for young men and women under The Stone brand.