Exhibit 99.2

— Consolidated Revenues Increase 33% —
— Earnings Per Share of $0.16 Exceeds Consensus Estimate of $0.15 —
— Raising Fiscal 2004 Sales and Earnings Per Share Guidance —

HUNTINGTON BEACH, CALIFORNIA, MARCH 10, 2004 — - — Quiksilver, Inc. (NYSE:ZQK), today announced operating results for the first quarter ended January 31, 2004.

Consolidated revenues for the first quarter of fiscal 2004 increased 33% to $256.1 million as compared to fiscal 2003 first quarter consolidated revenues of $192.1 million. Consolidated net income for the first quarter of fiscal 2004 increased 40% to $9.2 million as compared to $6.6 million the year before. First quarter fully diluted earnings per share was $0.16 versus $0.12 for the first quarter of fiscal 2003.

Robert B. McKnight, Jr., Chairman of the Board and Chief Executive Officer of Quiksilver, Inc., commented, “Our strong performance during the quarter, which once again exceeded expectations, is a great way to start the new fiscal year. These results were primarily driven by strong sales across all divisions, and better than expected operating margins, particularly in the Americas.”

Revenues in the Americas increased 21% during the first quarter of fiscal 2004 to $123.2 million as compared to fiscal 2003 first quarter revenues of $102.0 million. As measured in U.S. dollars and reported in the financial statements, European revenues increased 37% during the first quarter of fiscal 2004 to $106.2 million as compared to fiscal 2003 first quarter European revenues of $77.2 million. As measured in euros, European net sales increased 16% for those same periods. Asia/Pacific revenues were $26.3 million in the first quarter of fiscal 2004

compared to $12.1 million in the first quarter of fiscal 2003, which included only two months of Asia/Pacific operations since being acquired.

Mr. McKnight continued, “We recently returned from the MAGIC apparel trade show in Las Vegas, and the feedback from retailers regarding our fall lines was extremely positive across the board. Our retail stores continue to perform well both here and abroad. We recently promoted Carol Christopherson to Americas President of Retail, and we believe she will have a meaningful and immediate impact on our business.”

Consolidated inventories increased 24% to $179.3 million at January 31, 2004 from $144.2 million at January 31, 2003. Consolidated trade accounts receivable increased 16% to $200.6 million at January 31, 2004 from $173.5 million at January 31, 2003. Trade account receivable growth was modest compared to the increase in sales as average days sales outstanding decreased about nine days. Inventories grew 16% in constant dollars.

Bernard Mariette, President of Quiksilver, Inc. commented, “In addition to strong financial performance during the quarter, we continued to make progress on the development of our global operating platform. This was particularly true for our Asia/Pacific division. Our operations in Indonesia are performing very well, and we are excited to have hired David Toda as President of Quiksilver Japan. We continue to believe that Japan represents our best source of growth for this division in the near and intermediate term.”

Also, today the Company increased its guidance to new ranges of $1.10 billion to $1.12 billion for revenues and $1.22 to $1.25 for earnings per share.

Mr. McKnight concluded, “Our multi-brand, multi-channel, global approach to our business continues to afford us significant growth prospects into the future. Our momentum remains strong, our financials are sound, and we remain committed to fully capitalizing on our leadership position in the market.”

Quiksilver designs, produces and distributes clothing, accessories and related products for young-minded people and develops brands that represent a casual lifestyle–driven from a boardriding heritage. Quiksilver’s authenticity is evident in its innovative products, events and retail environments across the globe.

Quiksilver’s primary focus is apparel for young men and young women under the Quiksilver, Roxy, Raisins, and Radio Fiji labels. Quiksilver also manufactures apparel for boys (Quiksilver Boys and Hawk Clothing), girls (Roxy Girl, Teenie Wahine and Raisins Girls), men (Quiksilveredition and Fidra) and women (Leilani swimwear), as well as snowboards, snowboard boots and bindings under the Lib Technologies, Gnu and Bent Metal labels. Quiksilver’s products are sold throughout the world, primarily in surf shops and specialty stores that provide an authentic retail experience for our customers.

This Press Release contains forward-looking statements. 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 section titled “Forward Looking Statements” in Quiksilver’s Annual Report on Form 10-K.

NOTE: For further information about Quiksilver, Inc., you are invited to take a look at our world at http://www.quiksilver.com,
http://www.roxy.com, and http://www.fidragolf.com


		Three Months Ended January 31,

In thousands, except per share amounts		2004		2003

Revenues		$	256,142	$	192,080
Cost of goods sold			142,473		110,572

	Gross profit		113,669		81,508
Selling, general and administrative expense			94,735		68,425

Operating income			18,934		13,083
Interest expense			1,589		2,116
Foreign currency loss			3,267		551
Other expense			282		167

Income before provision for income taxes			13,796		10,249
Provision for income taxes			4,622		3,681

Net income		$	9,174	$	6,568

Net income per share		$	0.16	$	0.13

Net income per share, assuming dilution		$	0.16	$	0.12

Weighted average common shares outstanding			55,622		51,920

Weighted average common shares outstanding, assuming dilution			57,927		54,320


				January 31, 2004			October 31, 2003

Amounts in thousands
ASSETS
Current assets:
	Cash and cash equivalents			$	33,344		$	27,866
	Trade accounts receivable, less allowance for doubtful accounts of $8,830 (2004) and $8,700 (2003)				200,558			224,418
	Other receivables				7,395			7,617
	Inventories				179,282			146,440
	Deferred income taxes				18,909			17,472
	Prepaid expenses and other current assets				14,999			9,732

		Total current assets			454,487			433,545
Fixed assets, net					104,273			99,299
Intangibles, net					66,143			65,577
Goodwill					104,005			98,833
Deferred income taxes					2,425			1,984
Other assets					7,687			8,732

Total assets				$	739,020		$	707,970


LIABILITIES & STOCKHOLDERS’ EQUITY
Current Liabilities:
		Lines of credit		$	10,217		$	20,951
		Accounts payable			85,228			64,537
		Accrued liabilities			40,600			41,759
		Current portion of long-term debt			14,067			8,877
		Income taxes payable			11,636			10,796

			Total current liabilities		161,748			146,920
Long-term debt					108,445			114,542

			Total liabilities		270,193			261,462
Stockholders’ equity:
	Preferred stock				—			—
	Common stock				570			570
	Additional paid-in capital				156,470			155,310
	Treasury stock				(6,778	)		(6,778	)
	Retained earnings				286,728			277,554
	Accumulated other comprehensive gain				31,837			19,852

		Total stockholders’ equity			468,827			446,508

Total liabilities & stockholders’ equity				$	739,020		$	707,970


		Three Months Ended January 31,

		2004			2003

Amounts in thousands
Revenues:
	Americas	$	123,199		$	101,967
	Europe		106,183			77,246
	Asia/Pacific		26,281			12,102
	Corporate Operations		479			765

		$	256,142		$	192,080

Gross Profit:
	Americas	$	49,834		$	39,150
	Europe		51,285			35,380
	Asia/Pacific		12,485			6,213
	Corporate Operations		65			765

		$	113,669		$	81,508

SG&A Expense:
	Americas	$	39,665		$	33,396
	Europe		38,399			26,287
	Asia/Pacific		11,268			4,454
	Corporate Operations		5,403			4,288

		$	94,735		$	68,425

Operating Income:
	Americas	$	10,169		$	5,754
	Europe		12,886			9,093
	Asia/Pacific		1,217			1,759
	Corporate Operations		(5,338	)		(3,523	)

		$	18,934		$	13,083


	Company Contact:	Robert B. McKnight, Jr. Chairman & CEO Steven L. Brink Chief Financial Officer Quiksilver, Inc. (714) 889-2200
FOR IMMEDIATE RELEASE
	Investor Relations:	James Palczynski/Chad A. Jacobs Integrated Corporate Relations (203) 222-9013