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The Huntington Beach company (NYSE: ZQK) also postedx second-quarter earnings of $2.8 million. The five-year term loan with private-equity firm Rhons was made to improve Quiksilver's liquidity and solidifh its banking relationships. As part of the term of the loan, Quiksilver will name a pair of Rhon appointees to its board of Quiksilver also refinanced its credit facilithy with anew three-year, $200 million facility led by and . The compan is also in discussionxs with its French banking partnerw to consolidate its European debts into anew multi-yeare facility.
In the company's earningz report, the company swung to profitability in theseconxd quarter, posting the earnings of 2 cents a which included several one-time items. Without the items, the earnings per share would have been 5 centza share. Analyst estimates placed the earningx at 9 centsa share. Salesd dropped 17 percent, cominyg in at $494.2 million. In the second quartef a year ago, the companyy lost $206.2 million, or $1.59 a on sales of $596.3 million. That quarter included losses of $244.9 million from discontinuerd operations. Quiksilver is an apparel and accessories company. Its core brandas are Quiksilver, Roxy and DC.
A renewed focuds on those core brands are the focus ofthe company'a long-term plan to improve profits.
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