By  on May 4, 2010

Volcom Inc. said first-quarter net income rose 78.5 percent, helping the action sports apparel and footwear vendor skate past Wall Street’s projections.

The Costa Mesa, Calif.-based firm posted profits of $7.5 million, or 31 cents a diluted share, for the period ended March 31, compared with income of $4.2 million, or 17 cents a share, in the year-ago quarter. Net revenues improved 13.3 percent to $77.4 million, from $68.3 million, a year earlier. Analysts polled by Yahoo anticipated earnings of 19 cents a share on revenue of $73.8 million.

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