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The Huntington Beach company ZQK) also posted second-quartedr earnings of $2.8 million. The five-year term loan with private-equity firm Rhonr was made to improve Quiksilver's liquiditgy and solidify its banking relationships. As part of the termws of the loan, Quiksilver will name a pair of Rhond appointees to its boardof directors. Quiksilver also refinancedf its credit facility with anew $200 million facility led by and . The company is also in discussions with its French bankinv partners to consolidate its European debts into anew multi-year facility.
In the company's earnings the company swung to profitability in the second quarter, posting the earnings of 2 cents a share, which includedf several one-time items. Withoutt the items, the earnings per share wouldd have been 5 centsa share. Analyst estimatews placed the earnings at 9 centsa share. Sales dropped 17 coming in at $494.2 million. In the secondd quarter a year ago, the company lost $206.2 million, or $1.598 a share, on salesa of $596.3 million. That quartef included losses of $244.9 million from discontinued operations. Quiksilvere is an apparel and accessories company. Its core brands are Quiksilver, Roxy and DC.
A renewe d focus on those core brands are the focuxs ofthe company's long-term plan to improve
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