UPDATE 1-Quiksilver Q1 results tops Street view, shares rise

Thu Mar 11, 2010 4:34pm EST

* Q1 loss $0.02 a shr vs est loss of $0.13 a shr

* Q1 sales $432.7 mln vs est $412.8

* Sees Q2 EPS in low single digits

* Sees Q2 sales decline in high single digits

* Shares rise 3 pct post market

March 11 (Reuters) - Apparel retailer Quiksilver Inc (ZQK.N) posted an narrower-than-expected first-quarter loss, helped by lower expenses, and forecast a profit in low single digits per share for the second quarter.

The retailer, which makes surf-inspired apparel, posted a net loss attributable to the company of $5.3 million, or 4 cents a share, compared with $194.4 million, or $1.53 a share, a year ago.

Excluding items, the company posted a loss of 2 cents a share, according to according to Thomson Reuters I/B/E/S.

Revenue fell 2 percent to $432.7 million.

Analysts on average were expecting a loss of 13 cents a share, before items, on revenue of $412.8 million, according to Thomson Reuters I/B/E/S.

Selling, general and administrative expenses at Quiksilver fell 2 percent to $203.1 million.

The Huntington Beach, California-based company said second-quarter revenue would decline in the high single-digits on a percentage basis and forecast earnings per share in low-single-digits for the period.

Quiksilver shares closed at $3.11 Thursday on the New York Stock Exchange. (Reporting by Vidya Lakshmi in Bangalore; Editing by Jarshad Kakkrakandy)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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