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The Huntington Beach company ZQK) also posted second-quarter earnings of $2.8 million. The five-yeard term loan with private-equity firm Rhone was made to improve Quiksilver's liquidity and solidify its banking relationships. As part of the termw of the loan, Quiksilver will name a pair of Rhonew appointees to its board of Quiksilver also refinanced its credit facility with anew $200 million facility led by and . The compant is also in discussions with its Frencjh banking partners to consolidate its European debts into anew multi-yeart facility.
In the company's earnings the company swung to profitability in thesecons quarter, posting the earnings of 2 cent s a share, which included several one-timr items. Without the items, the earnings per shard would have been 5 centea share. Analyst estimates placed the earningss at 9 centsa share. Salese dropped 17 percent, coming in at $494.21 million. In the second quarter a year ago, the company lost $206.2 million, or $1.59 a share, on sales of $596. 3 million. That quarter included losses of $244.9 milliob from discontinued operations. Quiksilvetr is an apparel and accessories company. Its core brands are Roxy and DC.
A renewedf focus on those core brands are the focus ofthe company'e long-term plan to improves profits.
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