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Sports lifestyle firm Quiksilver faring as per Q4 & fiscal 2005 guidance

Oct '05
Outdoor sports lifestyle company Quiksilver Inc announced it has reaffirmed its guidance for the fourth quarter and fiscal year ending October 31, 2005. The Company also updated its outlook for the fiscal year ending October 31, 2006.

For the fourth quarter of fiscal 2005, the Company continues to expect revenues between $582 million and $592 million and diluted earnings per share of approximately $0.26 to $0.27, compared to $0.20 for the fourth quarter of fiscal 2004.

For fiscal 2005, the Company reaffirmed its outlook of revenues between $1.73 billion and $1.74 billion and diluted earnings per share of $0.86 to $0.87, compared to $0.68 reported in fiscal 2004. For fiscal 2006, the Company expects to report revenues ranging from $2.25 billion and $2.27 billion and diluted earnings per share of $0.87 to $0.88.

The Company noted that its financial expectations for fiscal 2005 represent sales and earnings increases of over 35 percent and 25 percent, respectively. Without Rossignol, revenues are expected to increase approximately 20 percent.

Some factors are leading the Company to moderate its current view on fiscal 2006. First, the Company has taken aggressive steps to more rapidly integrate Rossignol while other components will be completed and announced later in 2006. Second, the strengthening dollar and higher than anticipated interest expense are also expected to impact results. Taken together, the Company now believes that fiscal 2006 earnings will be up slightly compared to fiscal 2005.

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