Shorebreak Hotel as a venue for industry events. Cinematographer Louie Schwartzberg's "Moving Art Retreat" in June at Turtle Bay Resort. Details on Industry Insight.
Quiksilver’s loss widened for the fiscal year and fourth quarter ending Oct. 31.
For the year, the company reported a net loss of $73.2 million, including restructuring and other charges, vs. a net loss of $65.5 million last year.
Excluding the charges, the company reported net income of $4.6 million.
Total revenue for the year fell 13% to $1.98 billion.
In the Americas for fiscal 2009, revenue fell 12% to $929.7 million.
In Europe, sales fell 15% to $792.6 million. In constant currency, sales declined 7%.
In Asia Pacific, sales fell 5% to $251.6 million. In constant currency, sales rose 9%.
Total inventories at year end fell 14% to $267.7 million. In constant currency, inventories declined 22%.
Liquidity: The company said it has $143 million available on its credit lines and $100 million in unrestricted cash.
Total revenue: down 11% to $538.7 million
Net loss: $15.7 million vs. $13.8 million loss last year. Excluding restructuring and other charges, the company recorded net income of $3.2 million.
Americas revenue: down 22% to $239.5 million
Europe revenue: down by 2% to $211.4 million. In constant currency, revenue fell 4 %.
Asia Pacific revenue: up 5% to $86.6 million. In constant currency, revenue fell 4%.
The company expects revenues to decline 7% in the first quarter. It expects a loss of 12 to 15 cents per share.