Sponsors
Billabong ▲ +0.015 | PPR ▲ +2.15 | American Apparel ▲ +0.072 | The Buckle ▲ +0.25 | Columbia ▼ -1.54 | Deckers Outdoor ▼ -0.25 | Dicks ▼ -0.65 | Foot Locker ▲ +0.41 | Genesco ▲ +0.33 | Iconix Brand Group ▲ +0.17 | Jarden Corp ▲ +0.11 | Nordstrom ▲ +0.14 | Luxottica ▲ +0.23 | Nike ▼ -0.71 | Pacific Sunwear ▲ +0.14 | Skullcandy ▼ -0.01 | Sport Chalet ▼ -0.03 | Urban Outfitters ▲ +0.14 | VF Corp ▼ -0.40 | Quiksilver ▼ -0.07 | Zumiez ▲ +0.01 | Macys ▼ -0.07 | Tillys ▲ +0.09 |
Ticker Sponsor
Readers Say
Keeps me in the loop
Keeps me in the loop

Being an Executive Edition member allows me to not miss a beat when it comes to the Industry business news. Definitely keeps me in the loop plus goes great with my morning joe.

- By Tony Perez, Surfer and Surfing magazines
It pertains to my business
It pertains to my business

I’m an avid reader of Shop-Eat-Surf because it’s really the only online newsletter that I have found that is not only industry related, but also because it’s not so “guy-centric.” I find that a lot of the information I read on the site pertains to my business (as a swimwear designer) and keeps me up to date on what other companies and other women in the industry in general are doing which is not only inspiring but also helps me gauge the future direction of my business as well.

I feel privileged to read the Executive Edition because I know I am getting insider industry information before it hits the mainstream media channels. And it’s always good to know what my friends are up to in the industry.

- By Monica Wise, Founder, L*Space
New Industry Insight

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.


Tiffany Montgomery
Print This Article

Quiksilver Q4 and full year revenues grow

Quiksilver Q4 and full year
By Tiffany Montgomery
December 15, 2011 1:29 PM

Quiksilver released fourth quarter and full year results this afternoon. Here is short summary, followed by the official press release.

 

Fourth quarter 

Revenue: up 10% to $545.2 million in reported currency. Up 6% in constant currency.

 

Adjusted EBITDA: $57.1 million vs. $59.5 million the same period last year.

 

Income from continuing operations, excluding charges: $10.8 million vs. $21.8 million

 

Income from continuing operations, including charges: $67.9 million vs. a loss of $23.1 million.

 

Full year results 

Revenue: up 6% to $1.95 billion. Up 3% in constant currency.

 

Proforma income excluding charges: $30.8 million

 

Proforma loss including charges: $21.3 million loss vs. a loss of $11.5 million.

 

Americas revenue grew 13% in the fourth quarter and Roxy showed improved performance.

 

Quiksilver, Inc. Reports Fourth Quarter and Fiscal Year 2011 Results

 

— Fourth quarter revenues of $545 million grew 10% compared to Q4 last year

— Full-year fiscal 2011 revenues grew 6% to $1.95 billion

— Company earned pro-forma Adjusted EBITDA of $57 million for the quarter and $200 million for the full fiscal year

 

Huntington Beach, California, December 15, 2011 -- Quiksilver, Inc. (NYSE:ZQK) today announced operating results for the fourth fiscal quarter and full year ended October 31, 2011. Revenues grew 10% to $545.2 million as compared to $495.1 million in the fourth quarter of fiscal 2010 and grew 6% in constant currency.

 

The company earned Pro-forma Adjusted EBITDA of $57.1 million in the quarter compared to $59.5 million earned in the fourth quarter of fiscal 2010. Pro-forma income from continuing operations was $10.8 million, or $0.06 per share, compared to $21.8 million, or $0.12 per share, in the fourth quarter of fiscal 2010.

 

Pro-forma income for the fourth quarter of fiscal 2011 excludes $11.4 million of non-cash asset impairment charges, $8.0 million of restructuring costs and $76.6 million of income primarily related to the settlement of the company’s French tax audit. Including these pro-forma adjustments, income from continuing operations was $67.9 million, or $0.38 per share, compared to a loss of $23.1 million, or $0.15 per share, in the fourth quarter a year ago. A reconciliation of GAAP results to pro-forma results is provided in the accompanying tables.

 

Consolidated net revenues for the full year of fiscal 2011 grew 6% to $1.95 billion compared to $1.84 billion in fiscal 2010 and grew 3% in constant currency. Pro-forma income from continuing operations for the full year of fiscal 2011 was $30.8 million, or $0.17 per share, and excludes a net $52.1 million of special charges. Of this amount, $86.0 million represents non-cash asset impairment charges, $18.7 million represents valuation allowances provided against deferred tax assets, $10.7 million represents the write-off of deferred debt issuance costs associated with previous financings and $5.9 million represents restructuring costs.

 

These charges were partially offset by $69.3 million of income related to the tax settlement in the fourth quarter. Including these amounts, loss from continuing operations was $21.3 million, or $0.13 per share, compared to $11.5 million, or $0.09 per share, for the full year of fiscal 2010. A reconciliation of GAAP results to pro-forma results is provided in the accompanying tables.


On page 2: Comments from Bob McKnight, net revenues in Americas, Q4 highlights

 

 

Previous 1 2 Next

More on: Quiksilver, earnings

Articles You Might Have Missed