Shares of Huntington Beach-based Quiksilver Inc. closed down nearly 10% on Friday a day after the company warned about 2007 results and reported lower profits for the quarter ended Jan. 31.
Warm winter weather hurt sales of skis and related products acquired in late 2005’s buy of Skis Rossignol of France.
The winter sports season was the worst in decades and has gotten worse in recent weeks, Chief Executive Bob McKnight said. That’s resulted in fewer reorders and blowouts of unsold products, he said.
“The effects of that can be expected to continue throughout the year,” McKnight said.
For the quarter through January, Quiksilver saw sales of $552 million, up 2% from a year earlier.
Net income was down 88% to $2 million on the winter slowdown as well as higher selling, general and administrative expenses.
