Outdoor clothing and accessories brand Quiksilver has posted a decline in sales and income for its third quarter ended July 31.

Consolidated net revenues fell to $501.4 million from $564.9 million in the third quarter of 2008. This represented a decline of 5% in constant currency terms.

Income from continuing operations was $3.7 million compared with $33.1 million during the third quarter of fiscal 2008.

Net revenues in the Americas segment were down 6% during the third quarter to $256.8 million from $271.9 million in the third quarter of 2008. European net revenues decreased 19% to $189 million from $232 million, but were down just 8% in constant currency. Asia-Pacific revenues fell 8% to $55.1 million in the third quarter from $59.6 million in the prior-year quarter. However, in constant currency terms, Asia-Pacific revenues increased 12%.

Robert McKnight, Jr, chairman of the board, chief executive officer and president, said: "The fiscal third quarter was a very important period for our company as we delivered on the financial expectations we set a quarter ago and secured our global refinancing plan. In doing so, we have returned our focus to the continuing development of our core businesses. The retail environment remains very challenging and we will continue to adapt our cost structure to this trend as we go forward."

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