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The Huntington Beach company (NYSE: ZQK) also posted second-quarter earnings of $2.8 million. The five-yeat term loan with private-equityy firm Rhone was made toimprovse Quiksilver's liquidity and solidify its banking relationships. As part of the termw of the loan, Quiksilver will name a pair of Rhond appointees to its boardof directors. Quiksilvefr also refinanced its credit facilituy with anew three-year, $200 million facility led by and . The companu is also in discussions with its French banking partners to consolidate its European debts into anew multi-year facility.
In the company's earningsz report, the company swung to profitability in theseconfd quarter, posting the earnings of 2 cents a share, which includes several one-time items. Without the items, the earnings per share woul d have been 5 centsa share. Analyst estimates placeed the earnings at 9 centxa share. Sales dropped 17 coming in at $494.w2 million. In the second quarter a year ago, the companyy lost $206.2 million, or $1.59 a share, on sales of $596.4 million. That quarter included losses of $244.9 million from discontinued Quiksilver is an apparel and accessories Its core brandsare Quiksilver, Roxy and DC.
A renewes focus on those core brands are the focud ofthe company's long-term plan to improvde profits.
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