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Quiksilver's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Before we begin, I'd like to briefly review the company's Safe Harbor language. Throughout our call today, items may be discussed that are not based on historical facts and are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements regarding Quiksilver's business outlook and future performance constitute forward-looking statements, and results could differ materially from those stated or implied by these forward-looking statements as a result of risks, uncertainties and other factors, including those identified in our filings with the Securities and Exchange Commission, specifically under the section titled Risk Factors in our most recent annual report on Form 10-K.

All forward-looking statements made on this call speak only as of today's date, and the company undertakes no duty to update any forward-looking statements. In addition, this presentation may contain references to non-GAAP financial information. A reconciliation of non-GAAP financial information to the most directly comparable GAAP financial information is included in our press release, which can be found in electronic form on our website at www.quiksilverinc.com.

With that out of the way, I'd like to turn the call over to Bob McKnight.

Robert B. McKnight

Thanks, Bruce. Good afternoon, everyone, and thanks for joining us for our first quarter call today.

I'm pleased to report Q1 financial performance that exceeded our expectations when the quarter began on both top line revenues and bottom line profitability. In delivering another quarter of solid performance despite a number of challenging conditions around the world, we've again demonstrated that the diversification of our business remains a valuable asset in the pursuit of our long-term plans. Our 2012 business plan targets solid growth in each of our regions and continued growth in each of our brands. We cater to teens of both genders, and our products appeal to many age groups. We have fantastic long-term relationships with our wholesale clients while improving in our company-owned retail channel are driving strong sales comps in each of our global regions.

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