NEW YORK (TheStreet) -- Shares of Quiksilver (ZQK) were gaining 8.8% to $1.85 after-hours Tuesday after the apparel company beat analysts' estimates for earnings and revenue in the fiscal first quarter.
Quiksilver reported a loss of 11 cents a share for the fiscal first quarter, above analysts' estimates of a loss of 14 cents a share for the quarter. Revenue fell 13.7% year over year to $340.85 million for the quarter, above analysts' estimates of $337.37 million.
The apparel company said it expects to report revenue of about $340 million for the fiscal second quarter of 2015, compared to analysts' estimates of $368.57 million.
"Customer feedback on our Spring 15 product offering, across all brands, has been positive," Chairman and CEO Andy Mooney said. "Our order book for the Fall 15 product line continues to develop, and we are confident in our ability to generate revenue increases going forward."
TheStreet Ratings team rates QUIKSILVER INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate QUIKSILVER INC (ZQK) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and generally high debt management risk."
You can view the full analysis from the report here: ZQK Ratings Report
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