Huntington Beach-based Quiksilver Inc. isn’t planning to hand Wall Street any big surprises.
The company last week reaffirmed its sales and profit expectations for the three months ending Jan. 31. Eyes are on Quiksilver, the largest maker of surf-inspired clothes, after last year’s big buy of France’s Skis Rossignol SA.
In October, Quiksilver warned that profits for the 12 months ended Oct. 31 could come in 11% lower than what Wall Street had expected, in part due to restructuring at Rossignol.
Then in December, Quiksilver reported strong quarterly earnings and profit growth for the first full three months with Rossignol in the fold.
“We have reorganized our company to properly absorb this business and are pleased with the progress we’ve made thus far,” Chief Executive Robert “Bob” McKnight said in a Dec. 16 earnings call.
For the current quarter, Quiksilver expects nearly $22 million in profits, up about 50% from a year earlier. Sales are seen coming in at $530 million to $535 million, versus $343 million a year ago.
But not everyone’s satisfied with the company’s reaffirmation.
For more on this story, see the Jan. 16 edition of the Business Journal.
