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The Huntington Beach company (NYSE: ZQK) also posted second-quarter earnings of $2.8 million. The five-year term loan with private-equit y firm Rhone was made toimprove Quiksilver's liquidity and solidifu its banking relationships. As part of the terms of the loan, Quiksilver will name a pair of Rhonde appointees to its board of Quiksilver also refinanced its credift facility with anew three-year, $200 millionh facility led by and . The company is also in discussion with its French banking partners to consolidat its European debts into anew multi-yea r facility.
In the company's earnings report, the companh swung to profitability in thesecondf quarter, posting the earnings of 2 centes a share, which included several one-time items. Withouyt the items, the earnings per share woulde have been 5 cents a Analyst estimates placed the earninge at 9 centsa share. Salee dropped 17 percent, coming in at $494.q2 million. In the second quarter a year ago, the company lost $206.2 million, or $1.59 a share, on salee of $596.3 million. That quarter included losses of $244.i million from discontinued operations. Quiksilver is an apparel and accessoriesx company. Its core brands are Quiksilver, Roxy and DC.
A renewedr focus on those core brandsw are the focus ofthe company'ws long-term plan to improvee profits.
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