Quiksilver’s Net Income Climbs 26%

Surf-inspired clothing manufacturer and retailer Quiksilver Inc. said Thursday that quarterly profit jumped 26% as the company completed its acquisition of French ski maker Skis Rossignol.

Net income for its fiscal third quarter ended July 31 increased to $24.6 million, or 20 cents a share, meeting analyst expectations, compared with $19.5 million, or 16 cents, a year earlier.

Huntington Beach-based Quiksilver said revenue rose 11% to $373.8 million, missing analyst expectations of $381.4 million and its own forecast of $377 million to $382 million.

The company increased its fourth-quarter sales forecast to $582 million to $592 million with earnings per share of 26 cents to 27 cents.

Those results include $220 million from the Rossignol business, Chief Financial Officer Steve Brinks said.

In June, before the completion of the Rossignol acquisition, the company had estimated fourth-quarter revenue of $370 million to $375 million.

Costs of the Rossignol deal will first appear in the fourth quarter, Brinks said.

Quiksilver shares rose to $16 in after-hours trading after closing at $15.93, up 22 cents.