June 3, 2010 / 8:45 PM / 9 years ago

UPDATE 1-Quiksilver Q2 results beat Wall Street; shares surge

* Q2 adj EPS $0.12 vs est $0.03 - Thomson Reuters I/B/E/S

* Q2 revenue up 5 pct, above Street view

* Sees Q3 EPS down low-single digits vs yr-ago

* Asia Pacific revenue up 12 pct

* Shares rise as much as 17 pct in extended trade

June 3 (Reuters) - Apparel retailer Quiksilver Inc’s ZQK.N second-quarter results beat market expectations, helped by robust margins and a strong Asia Pacific business, but the company expects third-quarter earnings to be down in the low-single digit range. Quiksilver shares, which have more than doubled in the last six months, rose as much as 17 percent to $5.40 in after-market trade. They closed at $4.63 Thursday on the New York Stock Exchange. The retailer, which makes surf-inspired apparel, posted net income attributable to Quiksilver of $9.4 million, or 7 cents a share for the quarter ended April 30, up from $2.8 million, or 2 cents a share, a year earlier.

Excluding items, the company earned 12 cents a share, according to Thomson Reuters I/B/E/S.

Revenue at the Huntington Beach, California-based company rose 5 percent to $468.3 million, boosted by a 12 percent jump in Asia Pacific sales.

Analysts on average were expecting earnings of 3 cents a share, on revenue of $455.5 million. [ID:nASA00FAS]

The apparel retailer also expects third-quarter revenue to be down in the low teens on a percentage basis, compared with the year-ago quarter. (Reporting by Shradhha Sharma in Bangalore; Editing by Maju Samuel)

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