NEW YORK — Despite revenues that jumped 14 percent, Quiksilver Inc. posted a first-quarter loss of $21.9 million, or 18 cents a diluted share, compared with earnings of $2.5 million, or 2 cents a diluted share, in the year-ago period. The Huntington Beach, Calif.-based active company's sales gains, particularly in apparel, were dragged down by higher costs of making goods and higher selling, general and administrative expenses. Stripping out discontinued operations, the loss was 12 cents a diluted share. Sales climbed to $605.3 million, compared with $528.7 million last year.
Apparel sales were a standout, with gains of 19 percent, to $500.5 million from $421.5 million. The company said it plans “to continue to pursue strategic transactions to reduce or eliminate" hardgoods exposure, referring to its intended sale of the Rossignol hardgoods business.
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