June 7, 2012 / 9:01 PM / in 5 years

UPDATE 1-Quiksilver posts narrower quarterly loss

* Q2 loss per share $0.03 vs est profit $0.01

* Revenue up 3 pct to $492.2 mln

June 7 (Reuters) - Sportswear retailer Quiksilver Inc reported a quarterly loss, though analysts expected a profit, as the company continued to be pressured by higher costs and a tough economic environment hurt sales in Europe.

Quiksilver, which missed Wall Street estimates for the fourth quarter in a row, however, said it expects to reduce inventory levels in the second half on a strong fall season.

Second-quarter loss narrowed to $5.1 million, or 3 cents per share, from a $83.3 million, or 51 cents per share, last year.

The company, which sells branded apparel, footwear, accessories and snowboards, reported a loss of 2 cents per share, excluding items.

Gross margin contracted to 49.2 percent from 54.8 percent.

Revenue grew 3 percent to $492.2 million. But European revenue fell 6 percent to $195.6 million.

Analysts on average were expecting Quiksilver to earn 1 cent per share on a revenue of $495.87 million, according to Thomson Reuters I/B/E/S.

Shares of the Huntington Beach, California-based company closed at $2.44 on Thursday on the New York Stock Exchange.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below