Quiksilver Inc. on Thursday said third-quarter profit rose 64% and its fiscal-year results would beat estimates as fashions at the surf-inspired clothing maker and retailer were a hit with young people.
Net income jumped to $19.5 million, or 32 cents a share, for the quarter ended July 31 from $11.9 million, or 21 cents, a year earlier.
Third-quarter revenue increased 34% to $337.9 million . The results covered the first full quarter after the company's purchase of DC Shoes.
Huntington Beach-based Quiksilver confirmed its expectations for the fiscal fourth quarter ending Oct. 31 of revenue between $315 million and $320 million and earnings between 36 cents and 37 cents a share.