Quiksilver shares fall in after-hours trading

 






Industry Updates

Declines in Europe, the Middle East, Africa hurt second quarter profits

Surfersvillage Global Surf News, 7 June, 2013 : - - Quiksilver Inc. shares fell more than 10 percent in after-hours trading Thursday after the retailer posted a larger loss in its fiscal second quarter, as revenue from its namesake and Roxy brands declined.

Quiksilver reported a loss of $32.4 million, or 19 cents per share, for the quarter ended April 30. It lost $5.1 million, or 3 cents per share, in the same quarter last year. Excluding one-time items, the company lost 12 cents per share. Revenue fell 7 percent, to $458.7 million. Analysts expected profit of 4 cents per share and $505.4 million in revenue, according to FactSet.

Quiksilver revenue fell 10 percent and Roxy sales fell 4 percent, when the effects of changes in currency exchange rates are excluded, and DC revenue edged up 1 percent. Quiksilver said revenue from the Americas improved, but that wasn't enough to make up for declines in Europe, the Middle East, Africa and the Asia-Pacific region. Quiksilver shares fell 79 cents, or 10.3 percent, to $6.88 in after-hours trading.

Read the full article at NBC News

Check the Boardsportsource report

Source: NBC

Author: The Editors

Tags: Quiksilver, Stocks, Trading

Industry: Surfersvillage





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