Volcom Shares Rise On 1Q Results, Outlook

COSTA MESA, Calif. (AP) — Shares Volcom Inc. rose on Friday, after the clothing and accessories maker said profit fell by more than half but topped analyst expectations.

Shares rose $1.20, or 8.9 percent, to $14.69 during midday trading. The stock has traded between $6.39 and $28.88 during the past 52 weeks.

Late Thursday, the company said profit fell 55 percent to $4.2 million, or 17 cents per share, from $9.3 million, or 38 cents per share last year.

Revenue declined 15 percent to $68.3 million from $80.6 million last year.

Analysts polled by Thomson Reuters, on average, predicted a profit of 13 cents per share on revenue of $63.4 million.

Volcom also forecast second-quarter earnings of break-even to a loss of 3 cents per share on revenue of $47 million to $50 million.

Analysts expect a profit of 4 cents per share on revenue of $58.9 million.