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Company Contact:
    
    Joe Scirocco
Chief Financial Officer
Quiksilver, Inc.
(714) 889-2200Investor Relations:
    
    Chad A. Jacobs, Joe Teklits
Integrated Corporate Relations
(203) 682-8200
  Quiksilver, Inc. Reports 2007 Third Quarter Financial Results 
 Company Reiterates Outlook for Full Fiscal Year, Excluding Special Charges 




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About Quiksilver




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Forward looking statements:
 This press release contains forward-looking statements including but not limited to statements
regarding the companys financial forecast and earnings. These forward-looking statements are subject to risks and
uncertainties, and actual results may differ materially. Please refer to Quiksilvers SEC filings
for more information on the risk factors that could cause actual results to differ materially from
expectations, specifically the section titled Forward-Looking Statements in Quiksilvers Annual
Report on Form 10-K .
  NOTE: For further information about Quiksilver, Inc., you are invited to take a look at our world at www.quiksilver.com,www.roxy.com, www.dcshoecousa.com, www.quiksilveredition.com, www.hawkclothing.com,www.rossignol.com, www.dynastar.com,www.clevelandgolf.com, and www.fidragolf.com.




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CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
 Three Months Ended July 31,In thousands, except per share amounts
    
    2007
    
    
    2006Revenues, net
    
    $
    612,756
    
    
    $
    525,854Cost of goods sold
    
    
    331,540
    
    
    
    277,079Gross profit
    
    
    281,216
    
    
    
    248,775Selling, general and administrative expense
    
    
    262,232
    
    
    
    228,843Intangible asset impairment and related charges(1)
    
    
    13,175
    
    
    
    Operating income
    
    
    5,809
    
    
    
    19,932Interest expense
    
    
    15,332
    
    
    
    11,877Foreign currency loss
    
    
    65
    
    
    
    377Minority interest and other (income) expense
    
    
    (18
    )
    
    
    484(Loss) income before (benefit) provision for
income taxes
    
    
    (9,570
    )
    
    
    7,194(Benefit) provision for income taxes
    
    
    (1,703
    )
    
    
    1,858Net (loss) income
    
    $
    (7,867
    )
    
    $
    5,336Net (loss) income per share
    
    $
    (0.06
    )
    
    $
    0.04Net (loss) income per share, assuming dilution
    
    $
    (0.06
    )
    
    $
    0.04Weighted average common shares outstanding
    
    
    124,013
    
    
    
    122,341Weighted average common shares outstanding,
assuming dilution
    
    
    124,013
    
    
    
    127,737
 (1)
    
    Includes approximately $8.2 million in intangible asset impairment charges related to
the Companys acquisition of the minority interest in Roger Cleveland Golf Company, Inc. and
approximately $5.0 million in related contract termination costs.




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CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
 Nine Months Ended July 31,In thousands, except per share amounts
    
    2007
    
    
    2006Revenues, net
    
    $
    1,769,079
    
    
    $
    1,583,924Cost of goods sold
    
    
    958,649
    
    
    
    852,098Gross profit
    
    
    810,430
    
    
    
    731,826Selling, general and administrative expense
    
    
    763,533
    
    
    
    655,986Intangible asset impairment and related charges(1)
    
    
    13,175
    
    
    
    Operating income
    
    
    33,722
    
    
    
    75,840Interest expense
    
    
    45,675
    
    
    
    36,417Foreign currency loss (gain)
    
    
    3,481
    
    
    
    (616
    )Minority interest and other (income) expense
    
    
    (2,166
    )
    
    
    895(Loss) income before (benefit) provision for
income taxes
    
    
    (13,268
    )
    
    
    39,144(Benefit) provision for income taxes
    
    
    (3,076
    )
    
    
    11,476Net (loss) income
    
    $
    (10,192
    )
    
    $
    27,668Net (loss) income per share
    
    $
    (0.08
    )
    
    $
    0.23Net (loss) income per share, assuming dilution
    
    $
    (0.08
    )
    
    $
    0.22Weighted average common shares outstanding
    
    
    123,579
    
    
    
    121,928Weighted average common shares outstanding,
assuming dilution
    
    
    123,579
    
    
    
    127,564
 (1)
    
    Includes approximately $8.2 million in intangible asset impairment charges related to
the Companys acquisition of the minority interest in Roger Cleveland Golf Company, Inc. and
approximately $5.0 million in related contract termination costs.




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CONSOLIDATED BALANCE SHEETS (Unaudited)
 July 31,
    
    
    July 31,Amounts in thousands
    
    2007
    
    
    2006ASSETSCurrent assets:Cash and cash equivalents
    
    $
    76,007
    
    
    $
    84,342Trade accounts receivable, less allowance
for doubtful accounts of $42,236 (2007)
and $30,319 (2006)
    
    
    610,973
    
    
    
    492,414Other receivables
    
    
    52,357
    
    
    
    32,400Income tax receivable
    
    
    11,018
    
    
    
    5,253Inventories
    
    
    545,515
    
    
    
    516,366Deferred income taxes
    
    
    94,941
    
    
    
    46,859Prepaid expenses and other current assets
    
    
    31,482
    
    
    
    27,991Total current assets
    
    
    1,422,293
    
    
    
    1,205,625Fixed assets, net
    
    
    319,887
    
    
    
    264,585Intangibles, net
    
    
    252,300
    
    
    
    247,263Goodwill
    
    
    545,196
    
    
    
    525,846Other assets
    
    
    49,104
    
    
    
    51,326Assets held for sale
    
    
    18,264
    
    
    
    23,311Total assets
    
    $
    2,607,044
    
    
    $
    2,317,956LIABILITIES & STOCKHOLDERS EQUITYCurrent Liabilities:Lines of credit
    
    $
    327,477
    
    
    $
    278,261Accounts payable
    
    
    305,067
    
    
    
    242,309Accrued liabilities
    
    
    176,045
    
    
    
    195,797Current portion of long-term debt
    
    
    20,272
    
    
    
    22,728Total current liabilities
    
    
    828,861
    
    
    
    739,095Long-term debt
    
    
    716,901
    
    
    
    681,248Deferred income taxes and other long-term liabilities
    
    
    101,368
    
    
    
    73,886Total liabilities
    
    
    1,647,130
    
    
    
    1,494,229Minority interest
    
    
    9,982
    
    
    
    10,935Stockholders equity:Common stock
    
    
    1,280
    
    
    
    1,254Additional paid-in capital
    
    
    300,087
    
    
    
    268,382Treasury stock
    
    
    (6,778
    )
    
    
    (6,778
    )Retained earnings
    
    
    548,867
    
    
    
    493,711Accumulated other comprehensive income
    
    
    106,476
    
    
    
    56,223Total stockholders equity
    
    
    949,932
    
    
    
    812,792Total liabilities & stockholders equity
    
    $
    2,607,044
    
    
    $
    2,317,956




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Three Months Ended July 31,Amounts in thousands
    
    2007
    
    
    2006Revenues, net:Americas
    
    $
    335,013
    
    
    $
    277,413Europe
    
    
    212,696
    
    
    
    190,998Asia/Pacific
    
    
    63,860
    
    
    
    56,309Corporate operations
    
    
    1,187
    
    
    
    1,134$
    612,756
    
    
    $
    525,854Gross Profit:Americas
    
    $
    138,795
    
    
    $
    119,075Europe
    
    
    111,266
    
    
    
    101,401Asia/Pacific
    
    
    30,059
    
    
    
    27,697Corporate operations
    
    
    1,096
    
    
    
    602$
    281,216
    
    
    $
    248,775SG&A Expense:Americas
    
    $
    108,544
    
    
    $
    86,187Europe
    
    
    121,999
    
    
    
    105,845Asia/Pacific
    
    
    25,397
    
    
    
    23,698Corporate operations
    
    
    19,467
    
    
    
    13,113$
    275,407
    
    
    $
    228,843Operating Income:Americas
    
    $
    30,251
    
    
    $
    32,888Europe
    
    
    (10,733
    )
    
    
    (4,444
    )Asia/Pacific
    
    
    4,662
    
    
    
    3,999Corporate operations
    
    
    (18,371
    )
    
    
    (12,511
    )$
    5,809
    
    
    $
    19,932
  Three Months Ended July 31,2007
    
    
    2006Equipment
    
    
    
    
    
    
    
    
    
    
    EquipmentIn thousands
    
    Apparel Brands
    
    
    Brands
    
    
    Total
    
    
    Apparel Brands
    
    
    Brands
    
    
    TotalAmericas
    
    $
    279,829
    
    
    $
    55,184
    
    
    $
    335,013
    
    
    $
    233,112
    
    
    $
    44,301
    
    
    $
    277,413Europe
    
    
    185,012
    
    
    
    27,684
    
    
    
    212,696
    
    
    
    160,698
    
    
    
    30,300
    
    
    
    190,998Asia/Pacific
    
    
    59,936
    
    
    
    3,924
    
    
    
    63,860
    
    
    
    52,577
    
    
    
    3,732
    
    
    
    56,309Corporate operations
    
    
    
    
    
    
    
    
    
    
    1,187
    
    
    
    
    
    
    
    
    
    
    
    1,134$
    524,777
    
    
    $
    86,792
    
    
    $
    612,756
    
    
    $
    446,387
    
    
    $
    78,333
    
    
    $
    525,584