American sales were up 33.5% in Billabong’s financial half of the year ending December 31, 2006 with a net profit of AUS$90.5 million.
The group said that the first half result is an improvement of the prior corresponding result of $79.5 million, as the group recorded sales revenue of $610.7 million, which was up 26.1% from $484.3 million. . . . Looking forward, Mr O’Neill said that, in the absence of any unforeseen circumstances, the continued global momentum and strong demand is expected to deliver the full year earnings per share growth target of 15%.
And the stock went up 45 cents to AUS$17.85. And the Courier Mail was all upbeat. But that was yesterday. Today according to The Australian the stock tumbled almost four percent. Weird, huh?
[Link: e goli, The Courier Mail, and The Australian]
Unfortunately, we weren’t able to sit in on the Volcom call today at 1:30 PM PST, however, those intrepid reporters at the Orange County Business Journal were nice enough to line it all out for us. And it went something like this:
For the fourth quarter, sales rose 37% from a year earlier to $56.6 million. Analysts had expected about $55 million. . . Net income came in at $7.6 million. Analysts on average expected $7.3 million.
They did add that results for the current quarter could fall short of expections, and that some European expansion could cut into first quarter profits. . . we blame the weather.
[Link: Orange County Business Journal]
Add London to the list of cities hoping to cash in on the coming wavepool frenzy. This one, called the Surfdome will reportedly cost £30 million and feature New Zealand wave makers ASR’s latest wave making technology.
According to This is Hertfordshire the site will have three pools, a climbing wall and those ever present profits centers: shops, bars and restaurants. It is scheduled to open in “early 2009.”
We always think this Wall Street stuff is done in some distant corner of a dark room. Truth is it’s all out in the open and you can listen in if you’d like. If you’re bored this afternoon, why not jump in on the Volcom 2006 year-end summary conference call. It’s open to everyone and it’s going down today at 1:30 PM PST. Click the jump for all the details.
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In his new novel Against the Day, Thomas Pynchon describes Silverton, Colorado the way it was during its mining heyday in the 1880s:
Just a little grid of streets set in a green flat below the mountain peaks, but for wickedness it was one of the great metropolises of the fallen earth. . . Jittering Jesus.
That little grid has changed very little in the last 130 years, but there is new reason to visit: Silverton Moutain. We’ve mentioned it several times before, but in an age when huge multinational corporations buy and trade resorts like collectable cars, it’s comforting to know that a good ol’ do it yerself resort is still possible. That’s why we never tire of hearing the story of how Aaron and Jenny Brill did it. The Denver Post’s Jason Blevins explains.
[Link: Denver Post]
The Santa Cruz, California surf community is missing one of its standout members as O’Neill Surf Shop’s Mike “Loco” Locatelli died Wednesday February 21, 2007 after a 15-year battle with multiple brain tumors, according to the Santa Cruz Sentinel’s Gwen Mickelson. He was 46 years old. The death was a blow to the O’Neill family, said Pat O’Neill.
“Mike was a great influence on the Santa Cruz and surf communities,” O’Neill said in an e-mail. “He had the perfect mix of razor-sharp business savvy and warm, outgoing personality” Locatelli faced medical adversity with remarkable courage, O’Neill said.
[Link: Santa Cruz Sentinel]
This month professional snowboarder Danny Kass made the trip home to Vernon, New Jersey and the local paper (The Advertiser-News) was all over it. We love hometown coverage because they always uncover the good stuff. Turns out at one point in Danny’s career he felt that the endemic media portrayed him as a bit of a dick:
“It got ugly,” he admits now, saying the perception was never true. Rather, he said, the snowboarding press turned on him because he preferred being on the slopes and messing around with young riders and brushed the media off.
That’s certainly not true anymore.
We’ve said it repeatedly, but one of the few walls standing between Fuel TV and a much, much larger audience is that linear TV is dead and they don’t have enough going on the web. It appears that this may change now that Lee Pearson has joined the Fuel team as Director of New Media.
Reporting to Olivares, Pearson is responsible for strategy and operations of non-linear network initiatives including Internet, mobile and other digital platforms. Pearson will continue to build relationships with all technical, content and development vendors in association with FUEL TV’s existing new media businesses, while exploring strategic partnerships to enhance FUEL TV’s position in the marketplace.
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After launching what many have called the best looking snowboard magazine ever, Mark Sullivan has announced that he has decided to step away from his post as publisher of Snowboard Magazine. On his new website MediaKnievel.com he explains it all.
I recently decided to step away from my post as publisher of SNOWBOARD MAGAZINE. After starting the magazine in 2004, our crew fought to make the best magazine in snowboarding. I think that we have a lot to be proud of and I stand behind each issue we put out.
More recently we had some financial difficulties and partnered with Storm Mountain Publsihing to help us find the success and stability we found elusive as a single title publisher.
Although our partnership has proven successful on many fronts, my difference of opinion on the operations of SNOWBOARD MAGAZINE requires that I look to new ventures.
It has been a great pleasure creating this brand and a community around a sport that I love. I have learned a lot and I want to thank each of you for the support to make it as far as we have.
More on this story soon. . .
Sometimes we read this stuff and we think people are kidding. Alex Masterson, who is described in the press release as “an innovative Southern California snowboard designer” is launching her own brand of snowboards specifically designed for women called, Bitchboards (what, no c-word?).
‘Style, Design and Performance’ is the three-word mantra for the company. By taking an artistic approach to the design, a BitchBoards snowboard is not just a board, but also a work of art. The use of modern and abstract photography, such as green smoke swirling in the air or smeared paint on a white palette, for the graphics immediately separates BitchBoards from the competition.
Our two word mantra for Alex: good luck.
[Link: MMD Newswire]