Sponsors
Billabong ▲ +0.035 | PPR ▲ +0.20 | American Apparel ▲ +0.008 | The Buckle ▼ -0.07 | Columbia ▼ -0.49 | Deckers Outdoor ▼ -0.13 | Dicks ▼ -0.15 | Foot Locker ▲ +0.12 | Genesco ▼ -2.64 | Iconix Brand Group ▲ +0.13 | Jarden Corp ▲ +0.16 | Nordstrom ▼ -0.39 | Luxottica ▲ +0.57 | Nike ▼ -0.27 | Pacific Sunwear ▼ -0.22 | Skullcandy ▲ +0.09 | Sport Chalet - 0 | Urban Outfitters ▲ +0.02 | VF Corp ▲ +0.30 | Quiksilver ▼ -0.02 | Zumiez ▲ +0.20 | Macys ▼ -0.07 | Tillys ▼ 0.00 |
Ticker Sponsor
Readers Say
Useful on a daily basis
Useful on a daily basis

It's well balanced information that is useful on a daily basis. I'm very satisfied with the Executive Edition. I start each day with SES and a big cup of coffee!

- By Tom Ruiz, EVP Sales, Volcom
I waited too long to sign up for Executive Edition
I waited too long to sign up for Executive Edition

I read Shop-Eat-Surf at every opportunity, and I waited too long to sign up for the Executive Edition. It’s timely, relevant and clearly “from the industry, for the industry.

- By Andy Laats, President, Nixon
Industry Insight

AGENDA: Video recaps, 2015 show dates, "Love Made Me Do It" women's networking series on Wednesday.

STOKES ME: Deadline today to enter SIMA Humanitarian Fund's Bowl-a-thon fundraiser.

Details on Industry Insight.


Tiffany Montgomery
Print This Article

Quiksilver Q4 and full year revenues grow

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