NEW YORK (TheStreet) -- Shares of Quicksilver Inc. (ZQK) are down -23.14% to $4.46 in after-hours trading on Monday following the company's 2014 second quarter report which showed a decline in revenue and income.
The company, which designs, develops, and distributes footwear, apparel, and accessories, reported a 9% decline in revenue to $408 million versus $456 million from the year ago quarter.
Quicksilver's pro-forma adjusted EBITDA decreased to $12 million from $18 million for the 2013 second quarter.
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Net loss from continuing operations attributable to Quicksilver was -$46 million, or 27 cents per share, compared to a net loss of -$33 million, or 20 cents per share from the same period last year.
Separately, 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 some concerns, 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."