Amended Current Report Filing (8-k/a)
September 08 2014 - 1:08PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
September 4, 2014
Quiksilver, Inc.
(Exact
name of registrant as specified in its charter)
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| Delaware |
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001-14229 |
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33-0199426 |
| (State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification Number) |
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| 15202 Graham Street, Huntington Beach, CA |
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92649 |
| (Address of principal executive offices) |
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(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))
| Item 2.02 |
Results of Operations and Financial Condition. |
On September 4, 2014, Quiksilver, Inc.
(“Quiksilver”) issued a press release announcing its financial results for the three and nine months ended July 31, 2014. That press release contained a mathematical error with respect to pro-forma income from continuing operations
attributable to Quiksilver and pro-forma income per share from continuing operations attributable to Quiksilver, in each case for the third quarter ended July 31, 2013. The corrected amounts are set forth in the following table.
QUIKSILVER, INC. AND SUBSIDIARIES
GAAP TO PRO-FORMA (LOSS)/INCOME FROM CONTINUING OPERATIONS RECONCILIATION (UNAUDITED)
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Third quarter ended
July 31, |
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Nine months ended
July 31, |
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2014 |
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2013 |
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2014 |
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2013 |
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| In thousands, except per share amounts |
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| Net (loss)/income from continuing operations attributable to Quiksilver, Inc. |
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$ |
(220,051 |
) |
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$ |
182 |
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$ |
(288,125 |
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$ |
(63,926 |
) |
| Restructuring and other special charges, net of tax of $82, $2,406, $1,125 and $3,031, respectively |
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5,055 |
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10,767 |
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18,812 |
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20,417 |
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| Non-cash asset impairments, net of tax of $103, $49, $159 and $741, respectively |
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180,430 |
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2,103 |
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193,759 |
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9,911 |
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| Non-cash interest charges, net of tax of $0 for all periods |
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— |
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3,179 |
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— |
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3,179 |
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| Pro-forma (loss)/income from continuing operations attributable to Quiksilver, Inc. |
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(34,566 |
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16,231 |
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(75,554 |
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(30,419 |
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| Pro-forma (loss)/income per share from continuing operations attributable to Quiksilver, Inc.: |
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| Basic |
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$ |
(0.20 |
) |
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$ |
0.10 |
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$ |
(0.44 |
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$ |
(0.18 |
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| Diluted |
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$ |
(0.20 |
) |
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$ |
0.09 |
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$ |
(0.44 |
) |
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$ |
(0.18 |
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| Weighted average common shares outstanding: |
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| Basic |
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170,794 |
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167,624 |
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170,337 |
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166,735 |
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| Diluted |
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170,794 |
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190,568 |
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170,337 |
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166,735 |
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Pro forma income (loss) from continuing operations attributable to Quiksilver and pro forma income (loss) per share from
continuing operations attributable to Quiksilver are considered non-GAAP financial measures. Quiksilver believes these non-GAAP financial measures are useful to investors as they provide consistency and comparability with its past financial reports,
as well as useful information to enable investors to perform additional analyses of past, present and future operating performance and as a supplemental means to evaluate Quiksilver’s operations. These non-GAAP financial measures should not be
considered a substitute for financial information presented in accordance with GAAP, and may be different from non-GAAP or other pro forma measures used by other companies.
The information in this Form 8-K 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.
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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.
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| Dated: September 8, 2014 |
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Quiksilver, Inc.
(Registrant) |
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By: |
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/s/ Richard Shields |
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Richard Shields |
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Chief Financial Officer |
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