Surfing apparel company Quiksilver just reported results for its fiscal second quarter and the company’s stock is down about 30% after hours.
The company reported a quarterly net loss, excluding certain items, of $US0.15 per share, steeper than the $US0.02 loss that had been expected by analysts, according to data from Yahoo Finance.
Quiksilver’s sales also came in light, with revenue totaling $US408 million, well below expectations for $US448.6 million. Sales for the company’s namesake label fell 7% for the quarter.
The company also gave a less-than-stellar outlook, saying it expects recent sales trends to continue into the second half o the year, and saying it now expects to become profitable at the end of fiscal 2017. The company just completed the second quarter of its 2014 fiscal year.