Quiksilver Sports Sales, Profit Gains Over Prior Year

Quiksilver Inc., the casual wear and sportswear company, reported higher profit and sales for the fiscal year ended Oct. 31.

Net income rose to $10 million, or $1.44 a share, from $7.7 million, or $1.15 a share, for the prior year, which included a gain of $600,000 from an accounting change. Sales rose 37% to $172.8 million from $126.2 million.

Fourth-quarter net income showed a gain of 30% from the year-earlier total, to $2.6 million, or 36 cents a share, from $2 million, or 29 cents a share. Sales increased 36% to $49.1 million from $36.2 million.