Quiksilver swings to a loss in quarter
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Outdoor apparel and equipment maker Quiksilver Inc. said it swung to a fiscal third-quarter loss on one-time charges.
For the quarter that ended July 31, Quiksilver posted a loss of $7.9 million, or 6 cents a share, compared with $5.3 million, or 4 cents, a year earlier.
The quarter’s results included special charges of about $10.5 million from Quiksilver’s planned acquisition of the minority interest in its Roger Cleveland Golf Co. subsidiary.
Adjusted to exclude those charges, the company said it posted profit of 2 cents a share, what analysts surveyed by Thomson Financial had expected.
Revenue increased 17% to $612.8 million from $525.9 million a year earlier. Analysts had expected $568 million.
Huntington Beach-based Quiksilver’s shares rose 5 cents in after-hours trading to $12.90 after rising 10 cents to $12.85 in the regular session.
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