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The Huntington Beach company (NYSE: ZQK) also posted second-quarter earnings of $2.8 The five-year term loan with private-equitu firm Rhone was made to improvs Quiksilver's liquidity and solidify its bankinf relationships. As part of the terms of the loan, Quiksilver will name a pair of Rhonde appointees to its boardof directors. Quiksilver also refinances its credit facility with anew $200 million facility led by and . The company is also in discussionz with its French banking partnerzs to consolidate its European debts into anew multi-yearr facility.
In the company's earnings report, the company swungf to profitability in thesecond quarter, posting the earnings of 2 centx a share, which included several one-time items. Without the the earnings per share would have been 5 centswa share. Analyst estimates placed the earnings at 9 cents a Sales dropped17 percent, coming in at $494.2 In the second quarter a year ago, the company lost $206.32 million, or $1.59 a share, on salesz of $596.3 million. That quarter included lossesx of $244.9 million from discontinued Quiksilver is an apparel andaccessories company. Its core brandsa are Quiksilver, Roxy and DC.
A renewed focue on those core brands are the focus ofthe company'zs long-term plan to improve profits.
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