Quiksilver, Inc. (NYSE:ZQK) reported its results for the third quarter. The Company designs, produces and distributes apparel, wintersports equipment, footwear, accessories and related products.

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Quiksilver Earnings Cheat Sheet for the Third Quarter

Results: Net income for Quiksilver, Inc. rose to $10.4 million (6 cents per share) vs. $8.3 million (6 cents per share) in the same quarter a year earlier. This marks a rise of 25.7% from the year earlier quarter.

Revenue: Rose 14% to $503.3 million from the year earlier quarter.

Actual vs. Wall St. Expectations: ZQK fell short of the mean analyst estimate of 8 cents per share. It beat the average revenue estimate of $474.5 million.

Quoting Management: Robert B. McKnight, Jr., Chairman of the Board, Chief Executive Officer and President of Quiksilver, Inc., commented, “We’re pleased with our solid third quarter financial results and feel increasingly positive about our product offerings and the strength of our brands, which are resonating with consumers around the world despite global economic pressures. We’re seeing continued strong growth in emerging and developing markets while our category expansion initiatives are delivering good initial returns, consistent with our longer-term plans.”

Key Stats:

Gross margin shrank 1.6 percentage points to 50.7%. The contraction appeared to be driven by increased costs, which rose 17.8% from the year earlier quarter while revenue rose 14%.

ZQK’s profit in the latest quarter follows losses in the three previous quarters. The company reported a net loss of $83.3 million in the second quarter, a loss of $16.3 million in the first quarter and a loss of $22.1 million in the fourth of the last fiscal year.

The company fell short of estimates last quarter after beating the mark the quarter before with net income of 9 cents versus a mean estimate of net income of 7 cents per share.

The company’s revenue has now risen for two straight quarters. In the second quarter, revenue increased 2.1% to $478.1 million from the year earlier quarter.

Competitors to Watch: Delta Apparel, Inc. (AMEX:DLA), Oxford Industries, Inc. (NYSE:OXM), Volcom, Inc. (NASDAQ:VLCM), Superior Uniform Group, Inc. (NASDAQ:SGC), Perry Ellis Intl., Inc. (NASDAQ:PERY), American Apparel Inc. (AMEX:APP), Cherokee Inc. (NASDAQ:CHKE), Abercrombie & Fitch (NYSE:ANF), Aeropostale (NYSE:ARO), Phillips-Van Heusen Corp. (NYSE:PVH), J.C. Penney (NYSE:JCP), Nordstrom (NYSE:JWN) and Iconix Brand Group, Inc. (NASDAQ:ICON).

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(Source: Xignite Financials)

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