By  on November 3, 2008

Volcom Inc. reported increased third-quarter profits Thursday, but lowered its full-year guidance because of a wilting retail environment.

The Costa Mesa, Calif.-based board sports apparel firm posted a 12.1 percent gain to $16.3 million, or 67 cents a diluted share, from $14.5 million, or 59 cents a share, a year ago. The consensus estimate among analysts was for earnings per share of 64 cents.

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