Quiksilver beats expectations in Q3 - sportstextiles: Lea SportsTextiles

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Quiksilver beats expectations in Q3

07/09/2012
Surf apparel company Quiksilver has reported better-than-expected results for the third quarter of the year, with net income rising 20.8% over last year, from $10.4 million to $12.6 million.

Revenue increased 10% in the Americas, from $260.2 million to $286.1 million, and 9% in the Asia-Pacific region, from $65.5 million to $71.6 million. However, in Europe it declined 13% to $154.1 million from $176.4 million.

Robert McKnight, chief executive of the US company, said: “We continued to make solid progress on our three long-term initiatives, which are strengthening our brands, expanding our business and driving operational efficiencies.

“From a brand perspective, we launched integrated social media marketing campaigns, hosted the premier skate tour in the industry and had outstanding team-rider success in surfing.”

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