Quiksilver Disappoints On Q4 Results, Outlook

Quiksilver, Inc. ZQK announced financial results Thursday for the fiscal 2014 fourth quarter and full year ended October 31, 2014. Fourth quarter revenues came in at $400.65 million, well below estimates of $430.36 million and the $475.91 million reported in the year-ago period.

The fourth quarter loss per share was $0.29, more than the estimated loss of $0.11.

The fourth quarter net loss was $51.618 million vs. the loss of $171.112 million reported in the prior year period.

For fiscal 2014, all the company’s brands experienced shrinking revenues.

“We have successfully completed the organizational restructuring of the company, with every employee now singularly focused on execution,” said Andy Mooney, Chairman and Chief Executive Officer of Quiksilver. “Despite a challenging year, we significantly reduced costs and inventory levels, and are excited about our 2015 product offerings.”

Fiscal year 2015 net revenues are expected in the range of $1.48 billion to $1.55 billion, an increase of 1 percent to 5 percent on a constant currency continuing category basis versus the prior period. Analysts had estimated 2015 revenues at $1.62 billion.

Quiksilver traded at $1.40 in the after-hours session, down 5.40 percent.