UPDATE 1-Quiksilver says weather a drag on 2007 results

(Adds Wall Street estimates)

LOS ANGELES, Feb 8 (Reuters) - Quiksilver Inc. (ZQK.N), a maker of surf and ski apparel, on Thursday warned warm winter weather and poor snow conditions in the United States in Europe would drag on sales and earnings in both the current quarter and at the beginning of next winter.

For fiscal 2007, the maker of Rossignol snowboards and ski apparel forecast earnings per share of 75 cents to 78 cents on revenue of $2.43 billion to $2.46 billion.

Quiksilver had originally forecast 2007 earnings of 88 cents to 92 cents a share next year on revenue of about $2.5 billion.

Wall Street analysts, on average, were expecting earnings of 91 cents a share and revenue of $2.51 billion, according to Reuters Estimates.

The Huntington Beach, California-based company expects first quarter fiscal 2007 revenue to be about $540 million and earnings per share of around 4 cents per share.

Analysts were expecting revenue of $550.6 million and earnings of 9 cents a share.

Quiksilver also said this year's fourth quarter will be subject to carry-over effects from this winter because retailers will be planning more cautiously as they work through hold-over inventory.

It expects fourth-quarter revenue to range from $760 million to $770 million and earnings to range from 54 cents to 55 cents.

Analysts are expecting revenue of $819 million and earnings of 63 cents a share, according to Reuters Estimates.

Quiksilver makes skiing and snowboarding equipment under the Rossignol, Dynastar, Lange, Look, Kerma, DC Shoes, Roxy, Lib Technologies, Gnu and Bent Metal labels. Its shares closed at $14.52 Thursday on the New York Stock Exchange.