Quiksilver’s 3rd-Quarter Gains Boost Value of Clothier’s Stock

Quiksilver Inc. posted a 37% gain in net income for the third fiscal quarter on a 34% increase in sales, apparently spurring an increase in the company’s stock.

Quiksilver shares moved up 9.7%, or $1.69, to $19 on the New York Stock Exchange.

The Costa Mesa designer and distributor of casual clothing and sportswear earned $4.1 million, or 28 cents a share, for the three months ended July 31, up from $3 million, or 21 cents a share, for the like period a year ago. Sales increased 34% to $78.3 million from $58.5 million.

Net income for the nine-month period increased 22% to $11.6 million, or 80 cents a share, from $9.5 million, or 67 cents a share, for the first three quarters of fiscal 1997. Sales climbed 28% to $211.7 million from $165.3 million.