Exhibit 99.1
 
 Company Contact:
    
    Bruce ThomasVice President, Investor RelationsQuiksilver, Inc.+1 (714) 889-4425
 Quiksilver, Inc. Reports Fiscal 2008 Second Quarter Financial Results   Company Classifies Rossignol Group as Discontinued Operations   Rossignol Impairment Charge Drives Net Loss of $(1.59) per share   Net Revenues from Continuing Operations Increase 15% to $596 million   Income from Continuing Operations Increases 20% to $0.30 per share 




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Note:
  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 2008 annual revenue guidance, 2008 annual diluted earnings per share
guidance and other future activities. 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
atwww.quiksilver.com, www.roxy.com, www.dcshoecousa.com, www.quiksilveredition.com,
www.hawkclothing.com.




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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
 Three Months Ended April 30,In thousands, except per share amounts
    
    2008
    
    
    2007Revenues, net
    
    $
    596,280
    
    
    $
    520,359Cost of goods sold
    
    
    295,938
    
    
    
    270,977Gross profit
    
    
    300,342
    
    
    
    249,382Selling, general and administrative expense
    
    
    230,800
    
    
    
    194,826Asset impairment
    
    
    350
    
    
    
    Operating income
    
    
    69,192
    
    
    
    54,556Interest expense
    
    
    12,996
    
    
    
    11,671Foreign currency loss
    
    
    1,384
    
    
    
    1,066Minority interest and other income
    
    
    (471
    )
    
    
    (74
    )Income before provision for income taxes
    
    
    55,283
    
    
    
    41,893Provision for income taxes
    
    
    16,558
    
    
    
    9,474Income from continuing operations
    
    $
    38,725
    
    
    $
    32,419Loss from discontinued operations
    
    
    (244,949
    )
    
    
    (37,219
    )Net loss
    
    $
    (206,224
    )
    
    $
    (4,800
    )Income per share from continuing operations
    
    $
    0.31
    
    
    $
    0.26Loss per share from discontinued operations
    
    $
    (1.95
    )
    
    $
    (0.30
    )Net loss per share
    
    $
    (1.64
    )
    
    $
    (0.04
    )Income per share from continuing
operations, assuming dilution
    
    $
    0.30
    
    
    $
    0.25Loss per share from discontinued operations,
assuming dilution
    
    $
    (1.88
    )
    
    $
    (0.29
    )Net loss per share, assuming dilution
    
    $
    (1.59
    )
    
    $
    (0.04
    )Weighted average common shares outstanding
    
    
    125,741
    
    
    
    123,596Weighted average common shares outstanding,
assuming dilution
    
    
    130,052
    
    
    
    128,771




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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
 Six Months Ended April 30,In thousands, except per share amounts
    
    2008
    
    
    2007Revenues, net
    
    $
    1,092,861
    
    
    $
    931,213Cost of goods sold
    
    
    548,995
    
    
    
    486,751Gross profit
    
    
    543,866
    
    
    
    444,462Selling, general and administrative expense
    
    
    452,210
    
    
    
    371,364Asset impairment
    
    
    350
    
    
    
    Operating income
    
    
    91,306
    
    
    
    73,098Interest expense
    
    
    24,044
    
    
    
    23,539Foreign currency loss
    
    
    768
    
    
    
    1,422Minority interest and other income
    
    
    (397
    )
    
    
    (41
    )Income before provision for income taxes
    
    
    66,891
    
    
    
    48,178Provision for income taxes
    
    
    20,596
    
    
    
    11,087Income from continuing operations
    
    $
    46,295
    
    
    $
    37,091Loss from discontinued operations
    
    
    (274,459
    )
    
    
    (39,416
    )Net loss
    
    $
    (228,164
    )
    
    $
    (2,325
    )Income per share from continuing operations
    
    $
    0.37
    
    
    $
    0.30Loss per share from discontinued operations
    
    $
    (2.19
    )
    
    $
    (0.32
    )Net loss per share
    
    $
    (1.82
    )
    
    $
    (0.02
    )Income per share from continuing
operations, assuming dilution
    
    $
    0.36
    
    
    $
    0.29Loss per share from discontinued operations,
assuming dilution
    
    $
    (2.12
    )
    
    $
    (0.31
    )Net loss per share, assuming dilution
    
    $
    (1.76
    )
    
    $
    (0.02
    )Weighted average common shares outstanding
    
    
    125,133
    
    
    
    123,323Weighted average common shares outstanding,
assuming dilution
    
    
    129,606
    
    
    
    128,851




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CONSOLIDATED BALANCE SHEETS (Unaudited)
 April 30,
    
    
    April 30,In thousands
    
    2008
    
    
    2007ASSETSCurrent assets:Cash and cash equivalents
    
    $
    91,334
    
    
    $
    64,455Trade accounts receivable, less allowance
for doubtful accounts of $24,226 (2008)
and $18,849 (2007)
    
    
    473,032
    
    
    
    421,280Other receivables
    
    
    32,931
    
    
    
    22,241Inventories
    
    
    304,059
    
    
    
    274,580Deferred income taxes
    
    
    102,735
    
    
    
    38,532Prepaid expenses and other current assets
    
    
    29,204
    
    
    
    26,186Current assets held for sale
    
    
    290,236
    
    
    
    454,769Total current assets
    
    
    1,323,531
    
    
    
    1,302,043Fixed assets, net
    
    
    256,395
    
    
    
    189,626Intangibles, net
    
    
    144,013
    
    
    
    131,195Goodwill
    
    
    416,337
    
    
    
    378,769Other assets
    
    
    45,056
    
    
    
    27,067Deferred taxes-long term
    
    
    13,711
    
    
    
    Non-current assets held for sale
    
    
    
    
    
    
    452,240Total assets
    
    $
    2,199,043
    
    
    $
    2,480,940LIABILITIES & STOCKHOLDERS EQUITYCurrent Liabilities:Lines of credit
    
    $
    245,877
    
    
    $
    97,450Accounts payable
    
    
    191,106
    
    
    
    144,876Accrued liabilities
    
    
    116,892
    
    
    
    83,150Current portion of long-term debt
    
    
    35,740
    
    
    
    25,517Income taxes payable
    
    
    14,833
    
    
    
    2,906Liabilities related to assets held for sale
    
    
    212,303
    
    
    
    332,165Total current liabilities
    
    
    816,751
    
    
    
    686,064Long-term debt
    
    
    656,607
    
    
    
    618,461Deferred taxes and other long-term liabilities
    
    
    33,783
    
    
    
    29,291Non-current liabilities of assets held for sale
    
    
    6,953
    
    
    
    196,568Total liabilities
    
    
    1,514,094
    
    
    
    1,530,384Minority interest
    
    
    
    
    
    
    10,072Stockholders equity:Preferred stock
    
    
    
    
    
    
    Common stock
    
    
    1,295
    
    
    
    1,274Additional paid-in capital
    
    
    319,350
    
    
    
    290,627Treasury stock
    
    
    (6,778
    )
    
    
    (6,778
    )Retained earnings
    
    
    188,520
    
    
    
    556,734Accumulated other comprehensive income
    
    
    182,562
    
    
    
    98,627Total stockholders equity
    
    
    684,949
    
    
    
    940,484Total liabilities & stockholders equity
    
    $
    2,199,043
    
    
    $
    2,480,940




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Three Months Ended April 30,In thousands
    
    2008
    
    
    2007Revenues, net:Americas
    
    $
    247,615
    
    
    $
    236,264Europe
    
    
    284,500
    
    
    
    231,919Asia/Pacific
    
    
    62,484
    
    
    
    50,974Corporate operations
    
    
    1,681
    
    
    
    1,202$
    596,280
    
    
    $
    520,359Gross Profit:Americas
    
    $
    105,779
    
    
    $
    97,828Europe
    
    
    161,730
    
    
    
    125,190Asia/Pacific
    
    
    31,690
    
    
    
    25,316Corporate operations
    
    
    1,143
    
    
    
    1,048$
    300,342
    
    
    $
    249,382SG&A Expense:Americas
    
    $
    89,697
    
    
    $
    76,712Europe
    
    
    98,058
    
    
    
    77,358Asia/Pacific
    
    
    32,167
    
    
    
    25,382Corporate operations
    
    
    10,878
    
    
    
    15,374$
    230,800
    
    
    $
    194,826Asset Impairment:Americas
    
    $
    350
    
    
    $
    Europe
    
    
    
    
    
    
    Asia/Pacific
    
    
    
    
    
    
    Corporate operations
    
    
    
    
    
    
    $
    350
    
    
    $
    Operating Income:Americas
    
    $
    15,732
    
    
    $
    21,116Europe
    
    
    63,672
    
    
    
    47,832Asia/Pacific
    
    
    (477
    )
    
    
    (66
    )Corporate operations
    
    
    (9,735
    )
    
    
    (14,326
    )$
    69,192
    
    
    $
    54,556




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Six Months Ended April 30,In thousands
    
    2008
    
    
    2007Revenues, net:Americas
    
    $
    482,550
    
    
    $
    434,074Europe
    
    
    484,783
    
    
    
    393,076Asia/Pacific
    
    
    122,860
    
    
    
    102,087Corporate operations
    
    
    2,668
    
    
    
    1,976$
    1,092,861
    
    
    $
    931,213Gross Profit:Americas
    
    $
    207,535
    
    
    $
    182,136Europe
    
    
    271,427
    
    
    
    211,440Asia/Pacific
    
    
    63,425
    
    
    
    49,328Corporate operations
    
    
    1,479
    
    
    
    1,558$
    543,866
    
    
    $
    444,462SG&A Expense:Americas
    
    $
    184,307
    
    
    $
    151,207Europe
    
    
    186,137
    
    
    
    143,974Asia/Pacific
    
    
    60,081
    
    
    
    49,020Corporate operations
    
    
    21,685
    
    
    
    27,163$
    452,210
    
    
    $
    371,364Asset Impairment:Americas
    
    $
    350
    
    
    $
    Europe
    
    
    
    
    
    
    Asia/Pacific
    
    
    
    
    
    
    Corporate operations
    
    
    
    
    
    
    $
    350
    
    
    $
    Operating Income:Americas
    
    $
    22,878
    
    
    $
    30,929Europe
    
    
    85,290
    
    
    
    67,466Asia/Pacific
    
    
    3,344
    
    
    
    308Corporate operations
    
    
    (20,206
    )
    
    
    (25,605
    )$
    91,306
    
    
    $
    73,098




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CONSOLIDATED QUARTERLY STATEMENTS OF INCOME (Unaudited)
 Three Months Ended
    
    
    Year EndedIn thousands, except
    
    January 31,
    
    
    April 30,
    
    
    July 31,
    
    
    October 31,
    
    
    October 31,per share amounts
    
    2007
    
    
    2007
    
    
    2007
    
    
    2007
    
    
    2007Revenues, net
    
    $
    410,854
    
    
    $
    520,359
    
    
    $
    528,591
    
    
    $
    587,268
    
    
    $
    2,047,072Cost of goods sold
    
    
    215,774
    
    
    
    270,977
    
    
    
    276,512
    
    
    
    298,764
    
    
    
    1,062,027Gross profit
    
    
    195,080
    
    
    
    249,382
    
    
    
    252,079
    
    
    
    288,504
    
    
    
    985,045Selling, general and
administrative expense
    
    
    176,538
    
    
    
    194,826
    
    
    
    194,323
    
    
    
    216,576
    
    
    
    782,263Operating income
    
    
    18,542
    
    
    
    54,556
    
    
    
    57,756
    
    
    
    71,928
    
    
    
    202,782Interest expense
    
    
    11,868
    
    
    
    11,671
    
    
    
    11,881
    
    
    
    11,151
    
    
    
    46,571Foreign currency loss
    
    
    356
    
    
    
    1,066
    
    
    
    310
    
    
    
    3,125
    
    
    
    4,857Minority interest and
other expense
    
    
    33
    
    
    
    (74
    )
    
    
    80
    
    
    
    82
    
    
    
    121Income before provision
for income taxes
    
    
    6,285
    
    
    
    41,893
    
    
    
    45,485
    
    
    
    57,570
    
    
    
    151,233Provision for income taxes
    
    
    1,613
    
    
    
    9,474
    
    
    
    9,783
    
    
    
    13,636
    
    
    
    34,506Net income from
continuing operations
    
    $
    4,672
    
    
    $
    32,419
    
    
    $
    35,702
    
    
    $
    43,934
    
    
    $
    116,727Income per share from
continuing operations
    
    $
    0.04
    
    
    $
    0.26
    
    
    $
    0.29
    
    
    $
    0.35
    
    
    $
    0.94Income per share from
continuing operations,
assuming dilution
    
    $
    0.04
    
    
    $
    0.25
    
    
    $
    0.28
    
    
    $
    0.34
    
    
    $
    0.90Weighted average common
shares outstanding
    
    
    123,049
    
    
    
    123,596
    
    
    
    124,013
    
    
    
    124,492
    
    
    
    123,770Weighted average common
shares outstanding,
assuming dilution
    
    
    129,234
    
    
    
    128,771
    
    
    
    129,163
    
    
    
    130,127
    
    
    
    129,706




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##### 



Quarter Ended
    
    
    Year EndedJanuary 31,
    
    
    April 30,
    
    
    July 31,
    
    
    October 31,
    
    
    October 31,In thousands
    
    2007
    
    
    2007
    
    
    2007
    
    
    2007
    
    
    2007Revenues, net:Americas
    
    $
    197,810
    
    
    $
    236,264
    
    
    $
    281,891
    
    
    $
    279,836
    
    
    $
    995,801Europe
    
    
    161,157
    
    
    
    231,919
    
    
    
    185,616
    
    
    
    224,703
    
    
    
    803,395Asia/Pacific
    
    
    51,113
    
    
    
    50,974
    
    
    
    59,897
    
    
    
    81,080
    
    
    
    243,064Corporate operations
    
    
    774
    
    
    
    1,202
    
    
    
    1,187
    
    
    
    1,649
    
    
    
    4,812$
    410,854
    
    
    $
    520,359
    
    
    $
    528,591
    
    
    $
    587,268
    
    
    $
    2,047,072Gross Profit:Americas
    
    $
    84,308
    
    
    $
    97,828
    
    
    $
    117,951
    
    
    $
    117,934
    
    
    $
    418,021Europe
    
    
    86,250
    
    
    
    125,190
    
    
    
    103,770
    
    
    
    127,713
    
    
    
    442,923Asia/Pacific
    
    
    24,012
    
    
    
    25,316
    
    
    
    29,263
    
    
    
    41,820
    
    
    
    120,411Corporate operations
    
    
    510
    
    
    
    1,048
    
    
    
    1,095
    
    
    
    1,037
    
    
    
    3,690$
    195,080
    
    
    $
    249,382
    
    
    $
    252,079
    
    
    $
    288,504
    
    
    $
    985,045SG&A Expense:Americas
    
    $
    74,495
    
    
    $
    76,712
    
    
    $
    78,340
    
    
    $
    82,210
    
    
    $
    311,757Europe
    
    
    66,616
    
    
    
    77,358
    
    
    
    76,437
    
    
    
    96,456
    
    
    
    316,867Asia/Pacific
    
    
    23,638
    
    
    
    25,382
    
    
    
    24,327
    
    
    
    27,575
    
    
    
    100,922Corporate operations
    
    
    11,789
    
    
    
    15,374
    
    
    
    15,219
    
    
    
    10,335
    
    
    
    52,717$
    176,538
    
    
    $
    194,826
    
    
    $
    194,323
    
    
    $
    216,576
    
    
    $
    782,263Operating Income:Americas
    
    $
    9,813
    
    
    $
    21,116
    
    
    $
    39,611
    
    
    $
    35,724
    
    
    $
    106,264Europe
    
    
    19,634
    
    
    
    47,832
    
    
    
    27,333
    
    
    
    31,257
    
    
    
    126,056Asia/Pacific
    
    
    374
    
    
    
    (66
    )
    
    
    4,936
    
    
    
    14,245
    
    
    
    19,489Corporate operations
    
    
    (11,279
    )
    
    
    (14,326
    )
    
    
    (14,124
    )
    
    
    (9,298
    )
    
    
    (49,027
    )$
    18,542
    
    
    $
    54,556
    
    
    $
    57,756
    
    
    $
    71,928
    
    
    $
    202,782