Surf clothing cataloger Quiksilver Inc announced operating results for the third quarter ended July 31, 2005.
Consolidated net revenues for the third quarter of fiscal 2005 increased 11 percent to $373.8 million from $337.9 million in the third quarter of fiscal 2004. Consolidated net income for the third quarter of fiscal 2005 increased 26 percent to $24.6 million from $19.5 million the year before. Third quarter fully diluted earnings per share was $0.20 versus $0.16 for the third quarter of fiscal 2004, both amounts as adjusted for the two-for-one stock split that took effect in May 2005.
During the quarter, they closed acquisition of Skis Rossignol S.A., completed a highly successful bond offering and put a new global management structure in place. They also signed an exclusive licensing agreement with Kohl's to distribute the Tony Hawk brand in the United States, opened their first Quiksilver Boardriders/Andaska store in Anglet, France and participated in a series of unique marketing events, including skateboarder Danny Way's unprecedented jump over the Great Wall of China. Company teams around the world continue to perform at the highest level, and they look forward to building on the positive momentum that have created in the marketplace."
Net revenues in the Americas increased 4 percent during the third quarter of fiscal 2005 to $196.3 million from $187.9 million in the third quarter of fiscal 2004. As measured in U.S. dollars and reported in the financial statements, European net revenues increased 16 percent during the third quarter of fiscal 2005 to $133.6 million from $115.4 million in the third quarter of fiscal 2004.
marketing@alchempro.com
