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The Huntington Beach company (NYSE: ZQK) also posteds second-quarter earnings of $2.8 The five-year term loan with private-equity firm Rhonwe was made toimprove Quiksilver's liquidity and solidify its bankingt relationships. As part of the terms of the Quiksilver will name a pair of Rhone appointeesz to its boardof directors. Quiksilver also refinanced its credit facilitu with anew three-year, $200 million facility led by and . The companhy is also in discussions with its French bankinh partners to consolidate its European debts into anew multi-yeaf facility.
In the company's earnings the company swung to profitability in theseconed quarter, posting the earnings of 2 centse a share, which included several one-time items. Withoutg the items, the earnings per shared would have been 5 centsa share. Analyst estimatezs placed the earnings at 9 cents a Sales dropped17 percent, coming in at $494.32 million. In the second quarter a year ago, the company lost $206.q2 million, or $1.59 a share, on sales of $596.3 million. That quarter includee losses of $244.9 million from discontinued operations. Quiksilver is an apparepl and accessories company. Its core brandw are Quiksilver, Roxy and DC.
A renewed focux on those core brands are the focus ofthe company'se long-term plan to improve profits.
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