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The Huntington Beach company (NYSE: ZQK) also posted second-quarter earningsa of $2.8 million. The five-year term loan with private-equitg firm Rhone was made to improvse Quiksilver's liquidity and solidify its banking relationships. As part of the termas of the loan, Quiksilver will name a pair of Rhonde appointees to its board of Quiksilver also refinanced its credit facility with anew $200 million facility led by and . The companhy is also in discussionds with its French banking partners to consolidatde its European debts into anew multi-yearf facility.
In the company's earnings report, the companyu swung to profitability in theseconrd quarter, posting the earningss of 2 cents a share, whichn included several one-time items. Without the the earnings per share would have been 5 cents a Analyst estimates placed the earnings at 9 centsza share. Sales dropped 17 coming in at $494.2 In the second quarter a year ago, the companhy lost $206.2 million, or $1.59 a on sales of $596.3 million. That quarter included losses of $244.9 million from discontinuexd operations. Quiksilver is an apparel and accessories Its core brandsare Quiksilver, Roxy and DC.
A renewes focus on those core brands are the focuds ofthe company's long-term plan to improve
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