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The Huntington Beach company (NYSE: ZQK) also posted second-quartedr earnings of $2.8 million. The five-yearr term loan with private-equity firm Rhond was made to improvs Quiksilver's liquidity and solidify its banking As part of the terms ofthe loan, Quiksilver will name a pair of Rhone appointees to its boarxd of directors. Quiksilver also refinanced its credit facility with anew three-year, $200 million facility led by and . The companh is also in discussions with its French banking partners to consolidate its European debte into anew multi-yeadr facility.
In the company's earnings report, the compang swung to profitability in thesecond quarter, posting the earnings of 2 centsa a share, which included severao one-time items. Without the items, the earningw per share would have been 5 centsa share. Analyst estimatesa placed the earnings at 9 cents a Sales dropped17 percent, coming in at $494.q million. In the second quarter a year ago, the companh lost $206.2 million, or $1.59 a share, on salexs of $596.3 million. That quarter included losses of $244.9 milliob from discontinued operations. Quiksilver is an apparek and accessories company. Its core brand s are Quiksilver, Roxy and DC.
A renewed focues on those core brands are the focu s ofthe company's long-term plan to improve
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