Quiksilver Inc. said Monday its profit and sales were higher than expected in the quarter ended April 30.
The Huntington Beach surfwear maker said its net income in the quarter rose 25% to $35 million, versus a year earlier, on a 32% jump in sales to $427 million.
Wall Street analysts were looking for profit of about $34 million on sales of $398 million, according to Thomson Financial.
“The upside to our plan for the quarter was broad-based and driven by better than expected results from each of our three regional operating groups,” said Robert B. McKnight Jr., chairman and chief executive.
Sales in the company’s Americas region rose 34% in the period, with revenue in Europe and Asia rising 26% and 52%, respectively.
The company also said it began buying publicly traded shares of French ski maker Skis Rossignol SA on Monday. Quiksilver earlier this year said it plans to buy Rossignol for about $320 million in cash and stock.
It already has bought family owned shares of the company.
Shares of Quiksilver were finished flat at $16.4 in trading Monday.
