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Reuters
Published
Sep 3, 2011
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Quiksilver Q3 profit misses estimates

By
Reuters
Published
Sep 3, 2011

Sept 1 (Reuters) - Quiksilver Inc reported a lower-than-expected quarterly profit, as higher input costs pulled down margins, but the retailer forecast growth from emerging markets.

Quiksilver
Photo: Quiksilver

Third-quarter net income attributable to Quiksilver, which makes surf and other action sports-inspired clothes, was $10.4 million, or 6 cents a share, compared with $8.3 million, or 6 cents a share, in the year-ago period.

Revenue rose 14 percent to $503.3 million as Quiksilver's namesake brand, Roxy and others brands sold well, especially in the emerging markets.

Analysts, on average, were expecting earnings of 8 cents a share, before special items, on revenue of $472.2 million, according to Thomson Reuters I/B/E/S.

Gross margins dipped to 50.7 percent in the quarter from 52.3 percent last year.

Shares of Quiksilver the Huntington Beach, California-based company, which competes with PacSun and Zumiez , closed at $4.12 on Thursday on New York Stock Exchange.

(Reporting by Meenakshi Iyer in Bangalore; Editing by Joyjeet Das)

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