By  on September 4, 2009

Cost cuts helped Quiksilver Inc. adjust to lagging sales and retailers’ lowered inventories, but its third-quarter profits fell by more than half.

In the three months ended July 31, the Huntington Beach, Cailf.-based surfwear and sportswear firm posted net income of $1.3 million, or 1 cent a diluted share. Earnings fell 52.8 percent compared with a year ago, when they totaled $2.9 million, or 2 cents a share.

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