HUNTINGTON BEACH, Calif. (AP) -- Quiksilver Inc. moved to a profit in its fiscal fourth quarter as the company sold more of its surf-inspired clothing and gear.
Its quarterly revenue rose 10 percent and topped Wall Street's expectations. Shares of Quiksilver jumped 7 percent in extended trading.
The company reported Thursday after the market closed that it earned $67.9 million, or 42 cents per share, for the quarter that ended Oct. 31. That's compared with a loss of $22.1 million, or 14 cents per share, in the same quarter last year.
After adjusting for several special items, the company earned 6 cents per share versus 12 cents per share in the prior.
Quiksilver, based in Huntington Beach, said its total revenue increased to $545.2 million from $495.1 million, with some help from beneficial currency exchange.
Analysts polled by FactSet anticipated the company would post adjusted net income of 7 cents per share on revenue of $524.5 million.
Quiksilver said it ended the year in shape to deliver on its long-term plans after improving its products and making a heavier push in developing markets around the world.
For the full year the company reported a loss of $21.3 million, or 13 cents per share, versus a loss of $9.7 million, or 7 cents per share, in the prior fiscal year. After adjusting for impairment, restructuring and other charges, the company earned 17 cents per share versus 31 cents in the prior year. Total revenue grew 6 percent to $1.95 billion for the year.
Shares of the company rose 22 cents to $3.29 in after-hours trading. Quiksilver's shares rose 11 cents to close at $3.07 in regular trading Thursday.
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