Quiksilver Posts 2nd-Quarter Advances in Profits, Sales

Quiksilver Inc., a Costa Mesa designer and distributor of casual clothing and sportswear for young men and boys, reported that second-quarter profits rose 29% to $3.6 million, or 52 cents a share, from $2.8 million, or 42 cents a share, for the same period last year. Sales for the quarter ended April 30 rose 30% to $47.3 million from $36.5 million. For the first half, profits totaled $5.2 million, or 74 cents a share, up from $4.3 million, or 65 cents a share, in the first six months last year.

Six-month profits a year ago included a gain of $600,000 from an accounting change. Sales were up 33% to $81 million from $60.8 million. The company attributed the improved results to sales growth both domestically and in Europe.