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The Huntington Beach companyt (NYSE: ZQK) also posted second-quarter earnings of $2.8 million. The five-yeare term loan with private-equity firm Rhone was made to improves Quiksilver's liquidity and solidify its banking relationships. As part of the term s of the loan, Quiksilver will name a pair of Rhones appointees to its boar dof directors. Quiksilver also refinanced its credit facilityt with anew three-year, $200 million facility led by and . The company is also in discussions with its Frenchj banking partners to consolidate its European debts into anew multi-year facility.
In the company's earnings the company swung to profitability in the second posting the earnings of 2 centaa share, which included several one-time items. Without the items, the earnings per share wouldc have been 5 cents a Analyst estimates placed the earnings at 9 cents a Sales dropped17 percent, coming in at $494.q2 million. In the second quarte a year ago, the company lost $206.q2 million, or $1.59 a share, on salesz of $596.3 million. That quartetr included losses of $244.9 million from discontinued Quiksilver is an apparel and accessories Its core brandsare Quiksilver, Roxy and DC.
A renewede focus on those core brands are the focua ofthe company's long-term plan to improve profits.
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