Quiksilver Full-Year Sales UpThursday, December 15, 2011
Quiksilver shares were up 7% in after-hours trading, to a market value of $500 million.
The company makes clothes, shoes and accessories inspired by surfing, skateboarding and snowboarding. It counts several brands in its portfolio, including the namesake Quiksilver label, Roxy and DC Shoes.
The company saw pro-forma profit of $10.8 million for the three months through October. Analysts expected a profit of $12.6 million.
Pro-forma profit excludes certain one-time charges, costs associated with restructuring, and income from a French tax audit settlement.
Quiksilver beat analyst expectations on revenue for the October quarter with $545 million in sales, up 10% from a year earlier. Analysts expected $528.5 million in sales.
The quarterly results came at the same time Quiksilver reported its earnings for year ending in October.
Quiksilver’s sales for the 12 months through October were in line with Wall Street analysts at $1.9 billion, up 6% from a year earlier.
Pro-forma profit for the year was $30.8 million. That’s down about 35% from a year earlier and under the $32.4 million in profit analysts on average expected.
The company didn’t provide an outlook for the three months through January.
Wall Street analysts expect a loss of $5.4 million and sales of $450.9 million for the current quarter.