UPDATE 1-Quiksilver swings to loss, keeps 2007 outlook

Thu Jun 7, 2007 8:52pm EDT
 
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LOS ANGELES, June 7 (Reuters) - Quiksilver Inc. (ZQK.N: Quote, Profile, Research, Stock Buzz), which makes skate and surf-inspired apparel, said on Thursday it swung to a quarterly loss on expenses and other items.

Quiksilver had a second-quarter loss of $4.8 million, or 4 cents a share, compared with net income of $3.7 million, or 3 cents a share, a year ago.

Net revenue for the seller of brands such as Roxy and DC Shoes rose to $603.8 million from $516.9 million.

The results matched the estimates of two analysts for a loss of 4 cents per share, but surpassed the calls of 15 analysts, ranging from $570 million to $575.4 million, according to Reuters Estimates.

The Huntington Beach, California-based company said it continues to expect fiscal 2007 revenue of $2.5 billion and earnings of 53 cents per diluted share.

Quiksilver made a change to its quarterly forecast, saying it now expects 3 cents of earnings per share to shift from the third to the fourth quarter.

Quiksilver shares had closed 8 cents, or 0.6 percent, higher at $13.26 on the New York Stock Exchange on Thursday, and they were unchanged in extended trade.

((Reporting by Lisa Baertlein, editing by Braden Reddall; Reuters Messaging: lisa.baertlein.reuters.com@reuters.net; mail to:lisa.baertlein.reuters.com@reuters.net; +1 213 955 6742)) Keywords: QUIKSILVER RESULTS/

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