Quicksilver (ZQK) Misses Q4 EPS by 18c, Guidance Falls Short

Quicksilver (NYSE: ZQK) reported Q4 EPS of ($0.29), $0.18 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $400.7 million versus the consensus estimate of $430.4 million. Comps were down 3%.

Quicksilver sees FY2014 revenue of $1.48-1.55 billion, versus the consensus of $1.62 billion.

Quicksilver sees FY2014 revenue of $340 million, versus the consensus of $384.03 million.

Outlook:The Company provided the following guidance for continuing operations assuming October 31, 2014 currency exchange rates.

Fiscal year 2015 net revenues are expected in the range of $1.48 billion to $1.55 billion, an increase of 1% to 5% on a constant currency continuing category basis versus the prior period. Gross margins are expected in the range of 49.5% to 51%. SG&A, excluding any restructuring and special charges, is expected within the range of $750M to $765M. Pro-forma Adjusted EBITDA is expected in the range of $80 million to $90 million. Capital expenditures are expected to be below $25 million.

First quarter 2015 net revenues are expected to be approximately $340 million, which is a reduction of approximately 7% on a constant currency continuing category basis versus the prior period. Gross margins are expected to be approximately 51.3%. SG&A, excluding any restructuring and special charges, is expected to be approximately $187 million. Pro-forma Adjusted EBITDA is expected to be approximately $6 million.

The foregoing outlook updates and supersedes all previous guidance provided by the Company.

For earnings history and earnings-related data on Quicksilver (ZQK) click here.

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