Quiksilver Q1'FY14 revenues dip 2%

07 Mar '14

3 min read

Please refer to the accompanying tables for a reconciliation of GAAP results from continuing operations to certain non-GAAP results from continuing operations, including pro-forma loss from continuing operations, pro-forma loss from continuing operations per share, adjusted EBITDA and pro-forma adjusted EBITDA, for the first quarter ended January 31, 2014 and 2013, net revenues in historical and constant currency, and a definition of the Company’s emerging markets.

Net loss from continuing operations attributable to Quiksilver, Inc. improved to $22 million, or $0.13 per share, from $32 million, or $0.19 per share, primarily attributable to income tax benefits of $10 million recognized in continuing operations related to the sale of the Mervin and Hawk businesses, which are not expected to be recurring.

Pro-forma loss from continuing operations, which excludes the after-tax impact of restructuring and other special charges and non-cash asset impairments, was $16 million, or $0.10 per share, compared with $26 million, or $0.16 per share, also largely as a result of the income tax benefits recognized in continuing operations related to the sale of the Mervin and Hawk businesses.

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