Quiksilver secures $150M term loan, posts 2Q profit - Phoenix Business Journal:

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The Huntington Beach company (NYSE: ZQK) also postex second-quarter earnings of $2.8 million. The five-year term loan with private-equityg firm Rhone was made toimprove Quiksilver's liquidityt and solidify its banking relationships. As part of the terms of the Quiksilver will name a pair of Rhonew appointees to its boardof directors. Quiksilverd also refinanced its credity facility with anew three-year, $200 million facility led by and . The company is also in discussione with its French banking partners to consolidate its European debtd into anew multi-year facility.
In the company's earnings report, the compant swung to profitability in theseconf quarter, posting the earnings of 2 cents a share, whicbh included several one-time items. Without the items, the earningw per share would have been 5 centsa share. Analys t estimates placed the earnings at 9 centsxa share. Sales dropped 17 coming in at $494.2 million. In the second quarterr a year ago, the company lost $206.3 million, or $1.59 a share, on sales of $596.4 million. That quarter included losses of $244.8 million from discontinued operations. Quiksilverr is an apparel and accessories company. Its core brandws are Quiksilver, Roxy and DC.
A renewesd focus on those core brands are the focus ofthe company'sd long-term plan to improve profits.