Interviews
Pro-forma Adjusted EBITDA in line with plan - Quiksilver
11 Mar '11
5 min read
In December, the company completed its previously-announced sale of €200 million aggregate principal amount of 8.875% Senior Notes due 2017 by its wholly-owned European subsidiary, Boardriders S.A. Quiksilver used the proceeds of the offering to repay approximately €190 million of existing secured European term loans and to pay related fees and expenses. As a result, the company eliminated certain collateral obligations, extended its debt maturities and eliminated certain restrictions on the transfer of cash between its subsidiaries.
Q1 Brand Highlights
• Quiksilver and the Association of Surfing Professionals (ASP) announced the Quiksilver Pro New York surf competition, set to take place on Long Island's Long Beach from September 4-15. The Quiksilver Pro New York will be the 6th stop on the ASP 2011 World Tour and the first-ever World Championship Tour stop on the east coast of the United States. The surf contest will coincide with a series of events for enthusiasts of surf, skate, art and music who are expected to gather in New York as summer comes to a close. The Quiksilver Pro New York will expand the Quiksilver Pro Global Series, which also includes the Quiksilver Pro Gold Coast in Australia (February 26-March 9) and the Quiksilver Pro France (October 4-15).
• Quiksilver announced the signing of 4-time defending ASP Women's World Champion surfer Stephanie Gilmore to a 5-year endorsement agreement. Gilmore joined the Quiksilver surf team and has become a brand ambassador representing Quiksilver's lines for women. The addition of Gilmore coincides with the recent debut of Quiksilver's new global girls line, targeting 18-24-year-old females.
• DC Shoes announced the signing of Chris Cole, one of the best and most influential skaters of his generation. Cole, who has now joined the DC skate team, is only the second skater to become Thrasher Magazine's “Skater of the Year” twice - after DC's Danny Way - and he has also been honored with TransWorld SKATEboarding Magazine's “Readers Choice Award.”
Company Outlook
Addressing its outlook, the company confirmed that it continues to expect full-year revenues to be slightly above those of fiscal 2010 and pro-forma Adjusted EBITDA to be roughly in line with last year.
Q1 Brand Highlights
• Quiksilver and the Association of Surfing Professionals (ASP) announced the Quiksilver Pro New York surf competition, set to take place on Long Island's Long Beach from September 4-15. The Quiksilver Pro New York will be the 6th stop on the ASP 2011 World Tour and the first-ever World Championship Tour stop on the east coast of the United States. The surf contest will coincide with a series of events for enthusiasts of surf, skate, art and music who are expected to gather in New York as summer comes to a close. The Quiksilver Pro New York will expand the Quiksilver Pro Global Series, which also includes the Quiksilver Pro Gold Coast in Australia (February 26-March 9) and the Quiksilver Pro France (October 4-15).
• Quiksilver announced the signing of 4-time defending ASP Women's World Champion surfer Stephanie Gilmore to a 5-year endorsement agreement. Gilmore joined the Quiksilver surf team and has become a brand ambassador representing Quiksilver's lines for women. The addition of Gilmore coincides with the recent debut of Quiksilver's new global girls line, targeting 18-24-year-old females.
• DC Shoes announced the signing of Chris Cole, one of the best and most influential skaters of his generation. Cole, who has now joined the DC skate team, is only the second skater to become Thrasher Magazine's “Skater of the Year” twice - after DC's Danny Way - and he has also been honored with TransWorld SKATEboarding Magazine's “Readers Choice Award.”
Company Outlook
Addressing its outlook, the company confirmed that it continues to expect full-year revenues to be slightly above those of fiscal 2010 and pro-forma Adjusted EBITDA to be roughly in line with last year.
Quiksilver Inc
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