Dec 18, 2008
Quiksilver Q4 beats Street; shares rise
Dec 18, 2008
* Q4 adj EPS $0.32 beats Street by 7 cents
* Q4 revenue rises 3 pct
* Shares up 18 pct after the bell
Dec 18 (Reuters) - Sports-apparel maker Quiksilver Inc posted a better-than-expected quarterly profit, helped by a 10 percent revenue increase in the Americas, sending its shares up 18 percent.
The company, which sells apparel, footwear and accessories, said fourth-quarter pro-forma income from continuing operations was 32 cents a share, excluding a $55.4 million goodwill impairment charge.
Net revenue at the company, which sells its surfing, skateboarding and snowboarding products under Quiksilver, Roxy, DC and Hawk brands, rose 3 percent to $606.9 million.
Net revenue in the Americas was $306.9 million, said the company, which competes with Billabong International, Amer Sports Corp, Nike Inc and Adidas AG .
Analysts on average expected earnings of 25 cents a share, before special items, on revenue of $589.8 million, according to Reuters Estimates.
The company, whose swimwear brands include Raisins and Radio Fiji, posted a net loss of $955,000, or 1 cent a share, for the quarter ended Oct. 31, compared with a loss of $110.9 million, or 89 cents a share, a year earlier.
Shares of the Huntington Beach, California-based company were trading at $2 after the bell. The stock, which has shed 80 percent so far this year, closed at $1.69 Thursday on the New York Stock Exchange. (Reporting by Dilipp S. Nag in Bangalore; Editing by Deepak Kannan)
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