Mar 14, 2010
Quiksilver first quarter results tops Street view, shares rise
Mar 14, 2010
March 11 (Reuters) - Apparel retailer Quiksilver Inc (ZQK.N) posted an narrower-than-expected first-quarter loss, helped by lower expenses, and forecast a profit in low single digits per share for the second quarter.
The retailer, which makes surf-inspired apparel, posted a net loss attributable to the company of $5.3 million, or 4 cents a share, compared with $194.4 million, or $1.53 a share, a year ago.
Excluding items, the company posted a loss of 2 cents a share, according to according to Thomson Reuters I/B/E/S.
Revenue fell 2 percent to $432.7 million.
Analysts on average were expecting a loss of 13 cents a share, before items, on revenue of $412.8 million, according to Thomson Reuters I/B/E/S.
Selling, general and administrative expenses at Quiksilver fell 2 percent to $203.1 million.
The Huntington Beach, California-based company said second-quarter revenue would decline in the high single-digits on a percentage basis and forecast earnings per share in low-single-digits for the period.
Quiksilver shares closed at $3.11 Thursday 11 March on the New York Stock Exchange. (Reporting by Vidya Lakshmi in Bangalore; Editing by Jarshad Kakkrakandy)
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