Quiksilver Shares Jump on Q3 Earnings ReportFriday, September 7, 2012
Shares of Huntington Beach-based Quiksilver Inc. surged 21% in midday trading Friday, a day after the company reported better-than-expected earnings for the July quarter.
Quiksilver had a recent market value of $608 million.
The action sports apparel and retail company had net income of $12.6 million for the July quarter, up about 21% from a year earlier. The company reported an adjusted profit of $16.4 million for the period.
Analysts on average expected income of $9 million.
Quiksilver’s July quarter revenue was up 8% in constant currency to $512.4 million, below the $527.2 million analysts expected.
Skateboarding shoe and clothing company DC Shoes continued to be a bright spot for Quiksilver with sales up 15.5% during the quarter.
Quiksilver’s other core brands, Quiksilver and Roxy, also saw their business up during the quarter by 3.5% and 4.6%, respectively.
Quiksilver did not provide guidance for the current quarter, ending in October.
Analysts expect October quarter earnings of $16.2 million on revenue of $571 million.