QUIKSILVER’S NET UP 17%
COSTA MESA, Calif. — Fueled by strong domestic sales, Quiksilver Inc. said third-quarter earnings were ahead 17.1 percent to $2.9 million, or 42 cents a share, from $2.5 million, or 35 cents, a year earlier.
Sales for the three months ended July 31 increased 19.5 percent to $58.5 million from $49 million. Domestic sales jumped 24.5 percent to $38.2 million. European sales rose 11 percent to $20.3 million, but growth was restrained by an increase in the French income tax rate.
“The vital signs of our business are very encouraging,” Robert B. McKnight, chairman and chief executive, said in a statement, noting that all divisions are growing and current sell-throughs are strong.
For the nine months, earnings grew 4.3 percent to $9.5 million, or $1.34, from $9.1 million, or $1.26.
Sales climbed 14.8 percent to $165.3 million from $144 million. Domestic sales rose 16.7 percent to $106.8 million, while European sales increased 11.4 percent to $58.4 million.