Quiksilver’s First-Quarter Profits Surge 21%
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COSTA MESA — Quiksilver Inc., the Costa Mesa surf wear and snowboard maker, said fiscal first-quarter profits surged 21% to $2.1 million, or 30 cents a share, from $1.7 million, or 25 cents a share, earned in last year’s first quarter.
Revenue for the period ended Jan. 31 rose 20.3% to $55.2 million from $45.9 million as sales of the company’s apparel, swimwear, snowboards and accessories rose 15.8% in the United States and 27.4% in Europe.
Chairman Bob McKnight said the company’s bookings for the spring and summer months are well ahead of last year’s level in both the U.S. and Europe, which accounts for about 40% of the company’s sales.
Quiksilver’s stock rose on the news by $3 a share, or 9.4%, to $34.75 in Nasdaq trading.
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