UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

June 6, 2014

 

 

Quiksilver, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware (State or other jurisdiction of incorporation)		001-14229 (Commission File Number)		33-0199426 (IRS Employer Identification Number)
15202 Graham Street, Huntington Beach, CA (Address of principal executive offices)				92649 (Zip Code)

Registrant’s telephone number, including area code:

(714) 889-2200

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

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Item 2.02 Results of Operations and Financial Condition.

On June 6, 2014, Quiksilver, Inc. posted to its investor relations website quarterly financial information for fiscal year 2014 and quarterly and annual financial information for fiscal year 2013, in each case with respect to the continuing operations of each of its operating segments. The financial information is attached hereto as Exhibit 99.1.

The information in this Form 8-K and Exhibit 99.1 shall not be deemed filed for purposes of Section 18 of Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liability of that section, and, shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibit is being furnished herewith:

 

Exhibit No.		Exhibit Title or Description
99.1		Quiksilver, Inc. and Subsidiaries – Continuing Operations Information Related to Operating Segments (Unaudited)

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: June 6, 2014				Quiksilver, Inc. (Registrant)
				By:		/s/ Richard Shields
						Richard Shields
						Chief Financial Officer

 

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INDEX TO EXHIBITS

 

Exhibit No.		Exhibit Title or Description
99.1		Quiksilver, Inc. and Subsidiaries – Continuing Operations Information Related to Operating Segments (Unaudited).

 

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Exhibit 99.1

QUIKSILVER, INC. AND SUBSIDIARIES – CONTINUING OPERATIONS

INFORMATION RELATED TO OPERATING SEGMENTS (UNAUDITED)

 

																		Six months ended																Fiscal year ended
In thousands		Q1								Q2								April 30,								Q3				Q4				October 31,
		2014				2013				2014				2013				2014				2013				2013				2013				2013
Revenues, net:
Americas		$	173,165			$	182,636			$	186,427			$	226,302			$	359,592			$	408,938			$	261,191			$	223,204			$	893,333
EMEA			167,953				169,026				161,977				164,725				329,930				333,751				163,750				180,814				678,315
APAC			69,875				72,695				59,721				63,581				129,596				136,276				62,769				83,025				282,070
Corporate operations			175				684				90				955				265				1,639				615				1,367				3,621
		$	411,168			$	425,041			$	408,215			$	455,563			$	819,383			$	880,604			$	488,325			$	488,410			$	1,857,339
Gross Profit:
Americas		$	75,110			$	78,121			$	78,972			$	90,772			$	154,082			$	168,893			$	109,512			$	91,883			$	370,288
EMEA			96,122				98,225				86,242				87,861				182,364				186,086				97,220				97,271				380,577
APAC			36,808				39,236				33,413				31,523				70,221				70,759				32,259				40,856				143,874
Corporate operations			69				682				244				(1,155	)			313				(473	)			855				(288	)			94
		$	208,109			$	216,264			$	198,871			$	209,001			$	406,980			$	425,265			$	239,846			$	229,722			$	894,833
SG&A Expense:
Americas		$	83,692			$	85,187			$	91,670			$	83,877			$	175,362			$	169,064			$	76,920			$	73,752			$	319,736
EMEA			84,747				82,900				80,046				80,837				164,793				163,737				88,863				94,398				346,998
APAC			32,615				37,192				33,391				37,735				66,006				74,927				33,838				37,624				146,389
Corporate operations			10,765				16,745				8,540				14,473				19,305				31,218				15,101				20,767				67,086
		$	211,819			$	222,024			$	213,647			$	216,922			$	425,466			$	438,946			$	214,722			$	226,541			$	880,209
Asset Impairments:
Americas		$	222			$	1,621			$	4,191			$	5,322			$	4,413			$	6,943			$	1,086			$	1,182			$	9,211
EMEA			661				1,547				15,770				10				16,431				1,557				1,066				381				3,004
APAC			—				—				—				—				—				—				—				112				112
Corporate operations			—				—				—				—				—				—				—				—				—
		$	883			$	3,168			$	19,961			$	5,332			$	20,844			$	8,500			$	2,152			$	1,675			$	12,327
Operating Income/(Loss):
Americas		$	(8,804	)		$	(8,687	)		$	(16,889	)		$	1,573			$	(25,693	)		$	(7,114	)		$	31,506			$	16,949			$	41,341
EMEA			10,714				13,778				(9,574	)			7,014				1,140				20,792				7,291				2,492				30,575
APAC			4,193				2,044				22				(6,212	)			4,215				(4,168	)			(1,579	)			3,120				(2,627	)
Corporate operations			(10,696	)			(16,063	)			(8,296	)			(15,628	)			(18,992	)			(31,691	)			(14,246	)			(21,055	)			(66,992	)
		$	(4,593	)		$	(8,928	)		$	(34,737	)		$	(13,253	)		$	(39,330	)		$	(22,181	)		$	22,972			$	1,506			$	2,297