Home / Knowledge / News / Apparel/Garments / Quiksilver's US, Asia-Pacific revenues up in Q3 FY'12
Quiksilver's US, Asia-Pacific revenues up in Q3 FY'12
Sep '12
Quiksilver Inc. announced operating results for the third fiscal quarter ended July 31, 2012.

Fiscal Third Quarter Review:

All comparisons are between the third quarter of fiscal 2012 and the third quarter of fiscal 2011.

Revenues grew 2% to $512.4 million compared with $503.3 million, and grew 8%, or $38 million, in constant currency.

  • Americas revenue increased 10% to $286.1 million from $260.2 million, and was up 12% in constant currency.
  • Europe revenue decreased 13% to $154.1 million from $176.4 million, and was up modestly in constant currency.
  • Asia Pacific revenue increased 9% to $71.6 million from $65.5 million, and was up 13% in constant currency.

Gross margin was 49.5% of net revenues compared with 50.7% in the prior year period, primarily driven by lower gross margins in Europe due to higher levels of discounting and unfavorable currency exchange rate comparisons.

SG&A increased to $225.8 million compared with $221.2 million, up 10 basis points as a percentage of sales, primarily driven by $3.9 million of costs associated with staff eliminations and restructuring.

Pro-forma Adjusted EBITDA was $51.2 million compared with $52.7 million, with the decline largely driven by the contraction in gross margin mentioned above.

Net income was $12.6 million, or $0.07 per diluted share, compared with net income of $10.4 million, or $0.06 per diluted share.

Pro-forma income, which excludes $3.8 million of net after-tax restructuring charges and asset impairments, was $16.4 million, or $0.09 per diluted share, compared with pro-forma income of $10.4 million, or $0.06 per diluted share.

“During the quarter, we continued to make solid progress on our three long-term initiatives, which are strengthening our brands, expanding our business and driving operational efficiencies throughout the business,” said Robert B. McKnight, Jr., Chairman of the Board, Chief Executive Officer and President of Quiksilver, Inc.

“From a brand perspective, we launched integrated social media marketing campaigns, hosted the premier skate tour in the industry and had outstanding team-rider success in surfing,” continued McKnight. “From a growth standpoint, our business performed admirably. DC posted sales growth of 16% and e-commerce sales more than doubled.

“European sales grew modestly, which positions us well compared with our peers. In the area of operational efficiencies, we made tough decisions during the quarter regarding SG&A, including effecting staff eliminations in all our regions, as well as reductions in other operating expenses.

“Also, after implementing our new ERP system in the Americas in the second quarter, we kicked off our European ERP rollout in the third quarter, which will drive efficiencies by helping to integrate our operations and standardize our business processes globally. I applaud our team’s tenacity during this time of transformation and believe we are focusing on the right actions to strengthen our business and drive sustainable value.”

Must ReadView All

Textiles | On 27th Oct 2016

Teijin Frontier develops Solotex RC lightweight fibre

Teijin Frontier Co. Ltd, fibre products converting company and part...

Tosha Hays addressing the conference. Courtesy: College of Family and Consumer Sciences, UGA

Textiles | On 27th Oct 2016

Industry experts discuss future of fabrics at UGA

Industry experts, researchers and military officials discussed the...

Textiles | On 27th Oct 2016

Fischer Konzept installs sixth Zünd digital cutter

Fischer Konzept, German developers of individual packaging solutions...

Interviews View All

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search