Dallas, Texas 09/06/2013 (Financialstrend) – Quiksilver, Inc. (NYSE:ZQK) announced its Q3 results on 5 September. The company’s net revenue was $496M in comparison to the $512M that it stood at in the same quarter in 2012 and has dipped by 3% or $14M. The Americas net-revenue dropped 6% to $268M from $286M in the 2013 Q3. There was a 6% dip in EMEA net revenues to $164M from $154M. There was a 12% decrease in APAC net revenues to $63M from $72M. The gross margin was on par with what it was in the same period of 2012.
There was a 9% decrease in SG&A to $217M from $226M. This has been attributed to certain expenses that were related to athletes and events, compensation as well as administrative costs. In comparison to the 2012 Q3 non cash assets impairments of $0.1m the 2013 Q3 impairments were $2.2M. There was a rise in the pro forma adjusted- EBITDA by $4M to $56M from $52M.
Quiksilver, Inc. (NYSE:ZQK) rose 2.36% in Thursday’s trading session. The opening price of the shares was $5.12 which touched an intraday high of $5.42 and closed at $5.20. More than 3.53 million shares were traded in Thursday’s trading session while the average volume of shares traded in a 30-day period was 2.16 million. The company has a market cap of $886.38 million.
ZQK is a diversified company that is involved in designing, developing and distributing branded footwear, apparel, accessories and various other related products. The products marketed by the company target the youth segment. They cater to youth who like to follow a casual lifestyle and indulge in sports such as skateboarding, surfing and snowboarding. Its products are marketed across 3 core brands- Quiksilver, DC and Roxy as well as numerous other smaller brands. The company’s products are sold across 90 countries via different distribution points.