Quiksilver announces Q2 loss
US-based outdoor sports company Quiksilver has announced that it slipped to a loss in its second quarter, hurt by hefty impairment charges and valuation allowances related to the Asia Pacific region.
Quiksilver incurred a loss of $83.3 million in the second quarter, compared to a net profit of $9.4 million last year.
CEO Robert B. McKnight, Jr. said: “...Our Americas and European businesses delivered strong performances, although our business in Asia Pacific was affected by the natural disasters occurring in several of our markets. While global markets remain uneven, we are seeing some really encouraging signs for the future”.
Revenues grew 2% to $478 million from the prior year. Wall Street analysts expected revenues of $471.74 million for the quarter.
By region, revenues from Americas increased 5% to $210.7 million, while Europe edged down 1% to $206.9 million. Asia/Pacific fell 1% to $58.1 million.
