Shares of Huntington Beach-based Quiksilver Inc. rose more than 7% in Friday trading, a day after the apparel and sports equipment maker reaffirmed earnings through October.
Late Thursday, the company reported a loss of $4.8 million for the three months ended April 30, versus a profit of $3.73 million a year earlier.
Revenue in the quarter climbed 17% to $604 million, from $516.9 million a year ago. Analysts were expecting revenue of about $574 million for the quarter.
Quiksilver said it still is comfortable with its projected earnings for the 12 months through October of $65.5 million on sales of $2.5 billion.
Analysts had been expecting 2007 earnings of $64 million.
“We are very confident with the direction of our business over the longer term,” said Robert McKnight, Jr., Quiksilver’s chief executive.
The company counts a market value of about $1.7 billion.
