Apparel maker Quiksilver Inc. posted a fiscal fourth-quarter loss and set fiscal 2008 and first-quarter targets below Wall Street estimates, sending shares down 11% in extended trading.
The Huntington Beach company said sales and profitability were hurt by ongoing problems in its hardgoods business, which includes skis, snowboards and other winter equipment.
The maker of brands including Quiksilver, Roxy, DC Shoes and Rossignol said it had a net loss of $110.9 million, or 89 cents a share, in the quarter ended Oct. 31, compared with a profit of $65.3 million, or 51 cents, a year earlier.
Excluding special charges, the company posted earnings of 51 cents a share. A Wall Street consensus estimate was 52 cents, according to Reuters Estimates.