Costa Mesa’s Quiksilver Reports Big Yearly Gain

Quiksilver Inc., a Costa Mesa designer and distributor of clothing for young men and boys, reported a 75% gain in earnings for its fiscal year ended Oct. 31. The company posted a profit of $7.7 million, or $1.16 a share, which included a gain of $600,000 from an accounting change. That compared to earnings of $4.4 million, or 69 cents a share, for the previous 12 months.

Sales increased 33% to $126.2 million from $94.6 million. Fourth-quarter profit more than doubled to $2 million, or 29 cents a share, from $916,000, or 14 cents a share, for the same period a year earlier. Three-month sales rose 47% to $36.24 million from $24.7 million.