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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jenna who wrote (26826)3/10/1999 10:47:00 PM
From: kendall harmon  Read Replies (1) of 120523
 
ZQK what a company. Look for higher prices in the weeks ahead.

Quiksilver CEO comfortable with Q2 sales target
NEW YORK, March 10 (Reuters) - Snowboard and sportswear maker Quiksilver Inc. (NYSE:ZQK - news) expects to meet Wall Street's second quarter growth projections with a 30 percent boost in sales after beating analysts's first quarter estimates on Wednesday.

The company's chief executive, Robert McKnight, told Reuters he was comfortable with the sales projection building on first quarter sales of $85.9 million. But McKnight declined to comment on earnings estimates.

Wall Street analysts peg Quiksilver's second quarter earnings at $0.47 a diluted share and full-year earnings at $1.49.

''Obviously there's a lot of momentum in our product, our bookings, everything else,'' McKnight said. ''There's just higher than expected sales. We have a cross generational market, this huge demographic, that like what we're doing.''

On Wednesday, the company reported a 60 percent jump in first quarter earnings posting income of $3.35 million or $0.22 a share on revenues of $85.9 million vs. earnings of $2.12 million or $0.15 a share on sales of $55.2 million last year.

Analysts's expected $0.19 a diluted share.

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