Quiksilver Sales Jump in Quarter
Sportswear designer and snowboard maker Quiksilver Inc. on Wednesday posted a 62% jump in earnings for the fiscal first quarter, and said solid bookings in advance of summer should help sustain the growth.
The company earned $3.4 million, or 22 cents a share, for the three months ended Jan. 31, up from $2.1 million, or 15 cents a share, for the first quarter a year earlier. Analysts had expected the Costa Mesa company to post earnings of 19 cents a share, according to a survey by First Call Corp.
Sales climbed 56% to $85.9 million from $55.2 million.
The stock closed at $38.94 a share, off 44 cents, on the New York Stock Exchange.
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