Higher Sales for Quiksilver
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NEWPORT BEACH — Quiksilver Inc., one of the county’s largest surf wear makers, reported slightly higher sales but lower earnings in the third quarter, blaming the slow economy.
The Newport Beach-based company said net sales for the quarter ended July 31 were $25.9 million, up 5% from $24.6 million in the same period a year ago. Net income was $2 million, or 32 cents a share, down 30% from $2.6 million, or 41 cents a share, in last year’s third quarter.
For the first nine months of the fiscal year, sales were $77.3 million, up 6% over $72.6 million in the same period last year. Net income was $6.4 million, down 16% from last year’s $7.6 million.
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