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The Huntington Beach company ZQK) also posted second-quarter earnings of $2.8 million. The five-yeafr term loan with private-equityt firm Rhone was made toimprove Quiksilver's liquidity and solidifyg its banking relationships. As part of the termsx of the loan, Quiksilver will name a pair of Rhons appointees to its board of Quiksilver also refinanced its credit facility with anew three-year, $200 millioh facility led by and . The company is also in discussions with its Frencb banking partners to consolidate its European debtss into anew multi-year facility.
In the company's earnings report, the company swung to profitabilityh in thesecond quarter, posting the earningws of 2 cents a share, which includedx several one-time items. Withougt the items, the earnings per share would have been 5 centdsa share. Analyst estimates placed the earnings at 9 cents a Sales dropped17 percent, cominb in at $494.2 million. In the second quarter a year ago, the companu lost $206.2 million, or $1.59 a share, on saleds of $596.3 million. That quarte r included losses of $244.9 million from discontinue operations. Quiksilver is an apparelo and accessories company. Its core brands are Quiksilver, Roxy and DC.
A renewedx focus on those core brands are the focus ofthe company'ss long-term plan to improve profits.
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