Quiksilver Results Miss Estimates, Provides Weak Sales Guidance; Stock Down 5%

(RTTNews) - Apparel and footwear company Quiksilver Inc (ZQK) Thursday reported fourth-quarter net loss of $51.6 million or $0.30 per share. This compares with a loss of $171 million or $1.02 per share last year, when it recorded a $157 million income tax charge related to recording valuation allowances against certain deferred tax assets in its EMEA segment.

Revenues for the quarter were lower at $400.7 million compared with $475.9 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.11 per share on revenues of $430.4 million for the quarter. Analysts' estimates typically exclude special items.

For the first quarter, Quiksilver expects revenues of about $340 million, while analysts expect $384 million.

For the full year 2015, the company expects revenues of $1.48 billion to $1.55 billion, while analysts expect $1.62 billion.

ZQK closed Thursday at $1.48, down $0.04 or 2.63%, on a volume of 3.4 million shareso in the NYSE. In after hours, the stock dropped $0.08 or 5.4%.