Boston, MA 06/10/2013 (wallstreetpr) – The share prices of QuikSilver Inc. (NYSE:ZQK) had declined by 10.95 percent to close at $6.83 per share for the end of last trading session on Friday. The shares of the company witnessed the decline in prices owing to the weak second quarter financial results reported for the fiscal. The shares of QuikSilver Inc. (NYSE:ZQK) had been trading in the range of $6.51 to $6.88 per share during the day.
Second Quarter Financial Results
QuikSilver Inc. (NYSE:ZQK) involved in the design, distribution and sales of apparel, footwear and other accessories had reported a second quarter adjusted net loss of $0.12 per share. The financial results for the second quarter announced after the close of market on Thursday was highly disappointing over the adjusted net loss of $0.01 per share for the same quarter of previous year. Further the consensus estimate of experts was fixed at $0.04 profit per share of QuikSilver Inc. (NYSE:ZQK).
Such disappointing results plunged the share prices of QuikSilver Inc. (NYSE:ZQK) at heavy trading volumes. The shares of the company witnessed the trade of 9.59 million shares on Friday, while the average trading volume of QuikSilver Inc. (NYSE:ZQK) is at 2.25 million shares per day.
QuikSilver Inc. (NYSE:ZQK) specially focuses on apparel and footwear for casual and youth lifestyle with primary focus on sportswear for surfing, skate boarding and snowboarding. The company sells its products under three major brand names Quiksilver, Roxy and DC. The geographic regions over which QuikSilver Inc. (NYSE:ZQK) operates its stores include the Americas, Europe, Asia/Pacific and Corporate Operations.
The shares of QuikSilver Inc. (NYSE:ZQK) had recorded 52 week low price level of $2.09 per share and 52 week high price level of $8.14 per share. The company presently holds 167.30 million shares outstanding with an institutional ownership of 95 percent of its holdings.
