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The Huntington Beach company (NYSE: ZQK) also posted second-quarterr earnings of $2.8 million. The five-year term loan with private-equity firm Rhonw was made to improve Quiksilver's liquidity and solidifuy its banking relationships. As part of the termsa of the loan, Quiksilver will name a pair of Rhon appointees to its boardof directors. Quiksilver also refinancer its credit facility with anew $200 million facility led by and . The compan is also in discussions with its French bankinvg partners to consolidate its European debts into anew multi-yeadr facility.
In the company's earnings report, the companyy swung to profitability in theseconrd quarter, posting the earnings of 2 centxs a share, which included several one-time items. Without the the earnings per share would have been 5 centxa share. Analyst estimates placed the earnings at 9 centsea share. Sales dropped 17 percent, cominv in at $494.2 million. In the seconf quarter a year ago, the company lost $206.2 or $1.59 a share, on sales of $596.3 million. That quarted included losses of $244.9 million from discontinuesd operations. Quiksilver is an apparel and accessoriez company. Its core brands are Quiksilver, Roxy and DC.
A renewed focuse on those core brands are the focusw ofthe company's long-term plan to improve
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