Exhibit 99.1
 
 Company Contact:
    
    Bruce ThomasVice President, Investor RelationsQuiksilver, Inc.(714) 889-2200
 Quiksilver, Inc. Reports Fourth Quarter and Fiscal Year 2008 Results
  4th Quarter 2008 Adjusted Income from Continuing Operations of $0.32 per share 4th Quarter 2008 Loss from Continuing Operations of $0.11 per share after Goodwill Charge Fiscal 2008 Adjusted Income from Continuing Operations of $0.93 per share Fiscal 2008 Income from Continuing Operations of $0.51 per share after Goodwill Charge




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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 and liquidity forecasts as well as its ability to refinance its
existing indebtedness. 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 sections titled Risk Factors and Forward-Looking Statements in
Quiksilvers Annual Report on Form 10-K and Quarterly Reports on Form 10-Q .
  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.dcshoes.com and www.hawkclothing.com.
..




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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
 Three Months Ended October 31,In thousands, except per share amounts
    
    2008
    
    
    2007Revenues, net
    
    $
    606,899
    
    
    $
    587,268Cost of goods sold
    
    
    315,008
    
    
    
    298,764Gross profit
    
    
    291,891
    
    
    
    288,504Selling, general and administrative expense
    
    
    231,629
    
    
    
    216,576Goodwill impairment
    
    
    55,400
    
    
    
    Retail store impairments
    
    
    10,047
    
    
    
    Operating (loss) income
    
    
    (5,185
    )
    
    
    71,928Interest expense
    
    
    9,482
    
    
    
    11,151Foreign currency (gain) loss
    
    
    (5,298
    )
    
    
    3,125Minority interest and other expense
    
    
    701
    
    
    
    82(Loss) income before provision for income taxes
    
    
    (10,070
    )
    
    
    57,570Provision for income taxes
    
    
    3,754
    
    
    
    13,636(Loss) income from continuing operations
    
    $
    (13,824
    )
    
    $
    43,934Income (loss) from discontinued operations
    
    $
    12,869
    
    
    $
    (154,861
    )Net loss
    
    $
    (955
    )
    
    $
    (110,927
    )(Loss) income per share from continuing operations
    
    $
    (0.11
    )
    
    $
    0.35Income (loss) per share from discontinued operations
    
    $
    0.10
    
    
    $
    (1.24
    )Net loss per share
    
    $
    (0.01
    )
    
    $
    (0.89
    )(Loss) income per share from continuing operations,
assuming dilution
    
    $
    (0.11
    )
    
    $
    0.34Income (loss) per share from discontinued
operations, assuming dilution
    
    $
    0.10
    
    
    $
    (1.19
    )Net loss per share, assuming dilution
    
    $
    (0.01
    )
    
    $
    (0.85
    )Weighted average common shares outstanding
    
    
    127,067
    
    
    
    124,492Weighted average common shares outstanding,
assuming dilution
    
    
    127,067
    
    
    
    130,127




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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
 Fiscal Year Ended October 31,In thousands, except per share amounts
    
    2008
    
    
    2007Revenues, net
    
    $
    2,264,636
    
    
    $
    2,047,072Cost of goods sold
    
    
    1,144,050
    
    
    
    1,062,027Gross profit
    
    
    1,120,586
    
    
    
    985,045Selling, general and administrative expense
    
    
    915,933
    
    
    
    782,263Goodwill impairment
    
    
    55,400
    
    
    
    Retail store impairments
    
    
    10,397
    
    
    
    Operating income
    
    
    138,856
    
    
    
    202,782Interest expense
    
    
    45,327
    
    
    
    46,571Foreign currency (gain) loss
    
    
    (5,761
    )
    
    
    4,857Minority interest and other expense
    
    
    719
    
    
    
    121Income before provision for income taxes
    
    
    98,571
    
    
    
    151,233Provision for income taxes
    
    
    33,027
    
    
    
    34,506Income from continuing operations
    
    $
    65,544
    
    
    $
    116,727Loss from discontinued operations
    
    $
    (291,809
    )
    
    $
    (237,846
    )Net loss
    
    $
    (226,265
    )
    
    $
    (121,119
    )Income per share from continuing operations
    
    $
    0.52
    
    
    $
    0.94Loss per share from discontinued operations
    
    $
    (2.32
    )
    
    $
    (1.92
    )Net loss per share
    
    $
    (1.80
    )
    
    $
    (0.98
    )Income per share from continuing
operations, assuming dilution
    
    $
    0.51
    
    
    $
    0.90Loss per share from discontinued
operations, assuming dilution
    
    $
    (2.25
    )
    
    $
    (1.83
    )Net loss per share, assuming dilution
    
    $
    (1.75
    )
    
    $
    (0.93
    )Weighted average common shares outstanding
    
    
    125,975
    
    
    
    123,770Weighted average common shares
outstanding, assuming dilution
    
    
    129,485
    
    
    
    129,706




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Three Months Ended October 31,Amounts in thousands
    
    2008
    
    
    2007Revenues, net:Americas
    
    $
    306,879
    
    
    $
    279,836Europe
    
    
    216,349
    
    
    
    224,703Asia/Pacific
    
    
    82,573
    
    
    
    81,080Corporate operations
    
    
    1,098
    
    
    
    1,649$
    606,899
    
    
    $
    587,268Gross Profit:Americas
    
    $
    125,294
    
    
    $
    117,934Europe
    
    
    122,168
    
    
    
    127,713Asia/Pacific
    
    
    43,649
    
    
    
    41,820Corporate operations
    
    
    780
    
    
    
    1,037$
    291,891
    
    
    $
    288,504SG&A Expense:Americas
    
    $
    98,290
    
    
    $
    82,210Europe
    
    
    96,735
    
    
    
    96,456Asia/Pacific
    
    
    28,558
    
    
    
    27,575Corporate operations
    
    
    8,046
    
    
    
    10,335$
    231,629
    
    
    $
    216,576Asset Impairments:Americas
    
    $
    8,967
    
    
    $
    Europe
    
    
    692
    
    
    
    Asia/Pacific
    
    
    55,788
    
    
    
    Corporate operations
    
    
    
    
    
    
    $
    65,447
    
    
    $
    Operating (Loss) Income:Americas
    
    $
    18,037
    
    
    $
    35,724Europe
    
    
    24,741
    
    
    
    31,257Asia/Pacific
    
    
    (40,697
    )
    
    
    14,245Corporate operations
    
    
    (7,266
    )
    
    
    (9,298
    )$
    (5,185
    )
    
    $
    71,928




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Fiscal Year Ended October 31,Amounts in thousands
    
    2008
    
    
    2007Revenues, net:Americas
    
    $
    1,061,370
    
    
    $
    995,801Europe
    
    
    933,119
    
    
    
    803,395Asia/Pacific
    
    
    265,067
    
    
    
    243,064Corporate operations
    
    
    5,080
    
    
    
    4,812$
    2,264,636
    
    
    $
    2,047,072Gross Profit:Americas
    
    $
    445,381
    
    
    $
    418,021Europe
    
    
    532,034
    
    
    
    442,923Asia/Pacific
    
    
    140,168
    
    
    
    120,411Corporate operations
    
    
    3,003
    
    
    
    3,690$
    1,120,586
    
    
    $
    985,045SG&A Expense:Americas
    
    $
    371,958
    
    
    $
    311,757Europe
    
    
    380,374
    
    
    
    316,867Asia/Pacific
    
    
    117,219
    
    
    
    100,922Corporate operations
    
    
    46,382
    
    
    
    52,717$
    915,933
    
    
    $
    782,263Asset Impairments:Americas
    
    $
    9,317
    
    
    $
    Europe
    
    
    692
    
    
    
    Asia/Pacific
    
    
    55,788
    
    
    
    Corporate operations
    
    
    
    
    
    
    $
    65,797
    
    
    $
    Operating Income:Americas
    
    $
    64,106
    
    
    $
    106,264Europe
    
    
    150,968
    
    
    
    126,056Asia/Pacific
    
    
    (32,839
    )
    
    
    19,489Corporate operations
    
    
    (43,379
    )
    
    
    (49,027
    )$
    138,856
    
    
    $
    202,782




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GAAP TO PRO-FORMA RECONCILIATION (UNAUDITED)
 Three Months EndedOctober 31,2008Loss from continuing operations
    
    $
    (13,824
    )Goodwill impairment
    
    
    55,400Pro-forma income from continuing operations
    
    $
    41,576Pro-forma income per share from continuing operations
    
    $
    0.33Pro-forma income per share from continuing operations,
assuming dilution
    
    $
    0.32Weighted average common shares outstanding
    
    
    127,067Weighted average common shares outstanding, assuming dilution
    
    
    129,183
 GAAP TO PRO-FORMA RECONCILIATION (UNAUDITED)
 Fiscal Year EndedOctober 31,2008Income from continuing operations
    
    $
    65,544Goodwill impairment
    
    
    55,400Pro-forma income from continuing operations
    
    $
    120,944Pro-forma income per share from continuing operations
    
    $
    0.96Pro-forma income per share from continuing operations,
assuming dilution
    
    $
    0.93Weighted average common shares outstanding
    
    
    125,975Weighted average common shares outstanding, assuming dilution
    
    
    129,485




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CONSOLIDATED SELECTED BALANCE SHEET INFORMATION (UNAUDITED)
 October 31,Amounts in thousands
    
    2008
    
    
    2007Cash and cash equivalents
    
    $
    53,042
    
    
    $
    74,348Restricted cash
    
    
    46,475
    
    
    
    Trade accounts receivable, net
    
    
    470,059
    
    
    
    478,049Inventories
    
    
    312,138
    
    
    
    296,167Lines of credit and long-term debt
    
    
    1,060,318
    
    
    
    857,446
  Fiscal Year Ended October 31,Amounts in thousands
    
    2008
    
    
    2007Uncommitted debt
    
    $
    166,519
    
    
    $
    124,6342008
    
    
    
    
    
    
    33,9032009
    
    
    103,701
    
    
    
    34,3462010
    
    
    284,403
    
    
    
    207,2112011
    
    
    81,946
    
    
    
    35,7522012
    
    
    20,227
    
    
    
    21,2052013
    
    
    3,522
    
    
    
    3952014
    
    
    
    
    
    
    2015
    
    
    400,000
    
    
    
    400,000$
    1,060,318
    
    
    $
    857,446