Quiksilver Inc. (ZQK) Thursday reported a second-quarter loss that narrowed from last year. Last year's result was negatively impacted by a hefty impairment charge.
Net loss for the quarter narrowed to $5.1 million or $0.03 per share from $83.3 million or $0.51 per share in the year-ago period. Last year's loss included a $74.1 million non-cash goodwill impairment charge related to the company's business in Australia and Japan.
Pro-forma loss, which excludes one-time items, was $3.0 million or $0.02 per share, compared to a profit of $17.3 million or $0.09 per share last year.
On average, ten analysts polled by Thomson Reuters expected the company to earn $0.01 per share for the second quarter. Analysts' estimates typically exclude special items.
Second-quarter revenues grew 3 percent to $492.2 million from $478.1 million last year. On a constant currency basis, revenues grew 5 percent. Analysts expected revenues of $495.87 million for the quarter.
Gross margin was 49.2 percent, compared to 54.8 percent last year.
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