Plagued by one-time charges and “uneven growth,” Quiksilver Inc. swung to a second-quarter loss.
The surf-inspired apparel marketer posted a net loss of $83.3 million, or 51 cents a diluted share, for the period ended April 30, compared with net income of $9.4 million, or 7 cents a share in the year-ago quarter.
Stripping out restructuring charges and other items, the Huntington Beach, Calif.-based company earned 9 cents a share, which topped analysts’ estimates of 7 cents a share, according to Yahoo Finance.
The earnings “beat” and stronger-than-expected revenues helped lift Quiksilver’s shares 66 cents, or 15.1 percent, to close at $5.04. Results were reported late Thursday.
Revenue for the quarter grew 2.1 percent to $478.1 million, from $468.3 million a year earlier.
“Our Americas and European businesses delivered strong performances, although our business in Asia Pacific was affected by the natural disasters occurring in several of our markets,” said chairman, chief executive officer and president Robert McKnight. “While global markets remain uneven, we are seeing some really encouraging signs for the future.”
The ceo said the company logged its second consecutive quarter of double-digit same-store sales in the U.S., and that it was seeing growth in its fall/winter order books for its Roxy brand.