Quiksilver Profit, Sales Up From Year AgoThursday, September 1, 2011
Huntington Beach-based Quiksilver Inc. continued to see improvements on profit and revenue during the three months through July.
Quiksilver makes clothes, shoes and accessories inspired by surfing, skateboarding and snowboarding.
The company saw revenue up 14% from a year earlier to $503.3 million for the three July quarter.
That beat the $472.2 million Wall Street analysts expected.
Quiksilver’s pro-forma profit for the July quarter was $10.4 million, up about 27% from a year earlier but lower than the $13.9 million analysts expected.
Quiksilver’s sales for the recently ended quarter were led by its Americas division, which saw revenue of $260.2 million, up 11% from a year earlier.
“We’re seeing continued strong growth in emerging and developing markets while our category expansion initiatives are delivering good initial returns, consistent with our longer-term plans,” said Quiksilver Chief Executive Bob McKnight.
Quiksilver didn’t provide an outlook for the October quarter.
Analysts expect Quiksilver to report a profit of $17.3 million on revenue of $520 million for the October quarter.
Earlier this year Quiksilver gave guidance for the full year ending in October saying revenue is expected to be slightly above the $1.8 billion it reported last year.
Quiksilver said it expects adjusted earnings before interest, taxes, depreciation and amortization to be roughly in line with the $204.4 million it reported in 2010.