EXHIBIT 99.1

PRESS RELEASE

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

QUIKSILVER, INC. REPORTS 2004 FOURTH QUARTER
AND FULL YEAR 2004 OPERATING RESULTS

— Quarterly Consolidated Revenues Increase 30% —
— Quarterly Earnings Per Share Increase 37% to $0.41 —
— Fiscal Year Revenues Total $1.27 billion —
— Company Initiates FY05 EPS Guidance of $1.58 to $1.62 —

     HUNTINGTON BEACH, CALIFORNIA, DECEMBER 16, 2004 — Quiksilver, Inc. (NYSE:ZQK), today announced operating results for the fourth quarter and full year ended October 31, 2004.

     Consolidated revenues for the fourth quarter of fiscal 2004 increased 30% to $350.3 million as compared to fiscal 2003 fourth quarter consolidated revenues of $269.2 million. Consolidated net income for the fourth quarter of fiscal 2004 increased 43% to $24.9 million as compared to $17.4 million. Fourth quarter fully diluted earnings per share was $0.41 versus $0.30 for the fourth quarter of fiscal 2003.

     Consolidated revenues for the full year of fiscal 2004 increased 30% to $1.27 billion as compared to fiscal 2003 full year consolidated revenues of $975 million. Consolidated net income for the full year of fiscal 2004 increased 39% to $81.4 million as compared to $58.5 in fiscal 2003, and diluted earnings per share for the full year increased 32% to $1.36 versus $1.03 for the full year of fiscal 2003.

     Robert B. McKnight, Jr., Chairman of the Board and Chief Executive Officer of Quiksilver, commented, “Our strong fourth quarter performance allowed us to exceed expectations for the 12^th consecutive quarter and represents a tremendous finish to an outstanding year for our company. Fiscal 2004 was highlighted by several significant accomplishments and milestones, most notably our acquisition of DC Shoes and surpassing $1 billion in total sales. As

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2004 Full Year Operating Results
December 16, 2004 – Page 2

we begin 2005, we remain committed to building on our positive momentum and capitalizing on the many opportunities that lie ahead.”

     Revenues in the Americas increased 25% during the fourth quarter of fiscal 2004 to $157.2 million as compared to fiscal 2003 fourth quarter revenues of $125.6 million. As measured in U.S. dollars and reported in the financial statements, European revenues increased 26% during the fourth quarter of fiscal 2004 to $134.4 million as compared to fiscal 2003 fourth quarter European revenues of $106.7 million. As measured in euros, European revenues increased 16% for those same periods. Asia/Pacific revenues increased 53% to $56.1 million in the fourth quarter of fiscal 2004 compared to $36.7 million in the fourth quarter of 2003. As measured in Australian dollars, Asia/Pacific revenues increased 43%.

     Revenues in the Americas for the full year of fiscal 2004 increased 25% to $616.8 as compared to fiscal 2003 revenues of $492.4 million. As measured in U.S. dollars and reported in the financial statements, European revenues increased 29% during the full year of fiscal 2004 to $496.3 million as compared to fiscal 2003 results of $386.2 million. As measured in euros, European revenues increased 16% for the full year. Asia/Pacific revenues increased 58% to $148.7 million as compared to fiscal 2003 results of $94.2 million. As measured in Australian dollars, Asia/Pacific revenues increased 38% for the full year.

     Consolidated inventories increased 23% to $179.6 million at October 31, 2004 from $146.4 million at October 31, 2003, which is an increase of 18% after adjusting for the effect of changes in foreign currency translation rates. Inventories in the Americas increased 21% to $104.6 million at October 31, 2004 from $86.4 million at October 31, 2003. European inventories increased 12% in euros and increased 23% in U.S. dollars, totaling $53.7 million at October 31, 2004 compared to $43.8 million at October 31, 2003. Asia/Pacific inventories increased 23% in Australian dollars and 31% in U.S. dollars, totaling $21.3 million at October 31, 2004 from $16.2 million at October 31, 2003.

     Consolidated trade accounts receivable increased 25% to $281.3 million at October 31, 2004 from $224.4 million at October 31, 2003. Accounts receivable grew more slowly than sales as average days sales outstanding decreased about one day.

     Bernard Mariette, President of Quiksilver, Inc., commented, “Fiscal 2004 has been one of the best years in the history of Quiksilver. Our financial results are, once again, outstanding and

2004 Full Year Operating Results
December 16, 2004 – Page 3

at record levels. DC Shoes has been integrated ahead of schedule, our athletes and contests continue to lead their categories, and our products continue to perform in all regions. Our people have achieved success locally and individually, but most importantly, as a team. I want to thank everybody around the world for their ongoing hard work and dedication.”

     Mr. McKnight concluded, “Over the past few years we have worked extremely hard to integrate our strategic acquisitions and add important components to our business in order to expand our global reach and further develop our leadership position in the marketplace. The results of our efforts have translated into improved financial performance, in particular, significant increases in sales and profits, market capitalization, and shareholder value. We move forward with a strong portfolio of leading brands, a solid infrastructure to support our growth plans both domestically and abroad, and a world class organization dedicated to executing at the highest level.”

About Quiksilver:

     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, footwear and related accessories for young men and young women under the Quiksilver, Roxy, DC Shoes, Raisins, and Radio Fiji labels. Quiksilver also manufactures apparel, footwear and related accessories 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, DC Shoes, Roxy and Bent Metal labels. Quiksilver’s products are sold throughout the world, primarily in surf shops, skate shops and other specialty stores that provide an authentic retail experience for our customers.

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2004 Full Year Operating Results
December 16, 2004 – Page 4

Safe Harbor Language

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.

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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, http://www.dcshoecousa.com,
http://www.fidragolf.com, http://www.quiksilveredition.com and http://www.hawkclothing.com

2004 Full Year Operating Results
December 16, 2004 – Page 5

CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

	Three Months Ended October 31,
In thousands, except per share amounts	2004			2003
Revenues, net	$	350,288		$	269,217
Cost of goods sold		183,248			143,185
Gross profit		167,040			126,032
Selling, general and administrative expense		127,975			96,704
Operating income		39,065			29,328
Interest expense		1,827			1,812
Foreign currency loss		802			627
Other (income) expense		(206	)		78
Income before provision for income taxes		36,642			26,811
Provision for income taxes		11,767			9,411
Net income	$	24,875		$	17,400
Net income per share	$	0.42		$	0.31
Net income per share, assuming dilution	$	0.41		$	0.30
Weighted average common shares outstanding		58,582			55,456
Weighted average common shares outstanding, assuming dilution		61,070			57,831

2004 Full Year Operating Results
December 16, 2004 – Page 6

CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

	Fiscal Year Ended October 31
In thousands, except per share amounts	2004		2003
Revenues, net	$	1,266,939	$	975,005
Cost of goods sold		688,780		541,753
Gross profit		578,159		433,252
Selling, general and administrative expense		446,221		332,187
Operating income		131,938		101,065
Interest expense		6,390		8,267
Foreign currency loss		2,861		2,243
Other expense		695		488
Income before provision for income taxes		121,992		90,067
Provision for income taxes		40,623		31,551
Net income	$	81,369	$	58,516
Net income per share	$	1.42	$	1.08
Net income per share, assuming dilution	$	1.36	$	1.03
Weighted average common shares outstanding		57,194		54,224
Weighted average common shares outstanding, assuming dilution		59,644		56,635

2004 Full Year Operating Results
December 16, 2004 – Page 7

CONSOLIDATED BALANCE SHEETS (Unaudited)

In thousands	October 31, 2004			October 31, 2003
ASSETS
Current assets:
Cash and cash equivalents	$	55,197		$	27,866
Trade accounts receivable, less allowance for doubtful accounts of $11,367 (2004) and $8,700 (2003)		281,263			224,418
Other receivables		16,165			7,617
Inventories		179,605			146,440
Prepaid expenses and other current assets		34,566			27,204
Total current assets		566,796			433,545
Property and equipment, net		122,787			99,299
Intangibles, net		121,116			65,577
Goodwill		169,785			98,833
Other assets		10,506			10,716
Total assets	$	990,990		$	707,970
LIABILITIES & STOCKHOLDERS’ EQUITY
Current Liabilities:
Lines of credit	$	10,801		$	20,951
Accounts payable		105,054			64,537
Accrued liabilities		79,095			41,759
Current portion of long-term debt		10,304			8,877
Income taxes payable		18,442			10,796
Total current liabilities		223,696			146,920
Long-term debt		163,209			114,542
Deferred income taxes		15,841			—
Total liabilities		402,746			261,462
Stockholders’ equity:
Preferred stock		—			—
Common stock		602			570
Additional paid-in capital		200,719			155,310
Treasury stock		(6,778	)		(6,778	)
Retained earnings		358,923			277,554
Accumulated other comprehensive income		34,778			19,852
Total stockholders’ equity		588,244			446,508
Total liabilities & stockholders’ equity	$	990,990		$	707,970

2004 Full Year Operating Results
December 16, 2004 – Page 8

Information related to geographic segments is as follows:

	Fiscal Year Ended October 31,
In thousands	2004			2003
Revenues:
Americas	$	616,818		$	492,442
Europe		496,276			386,226
Asia/Pacific		148,733			94,187
Corporate Operations		5,112			2,150
	$	1,266,939		$	975,005
Gross Profit:
Americas	$	251,357		$	197,434
Europe		251,692			189,462
Asia/Pacific		73,152			44,206
Corporate Operations		1,958			2,150
	$	578,159		$	433,252
SG&A Expense:
Americas	$	187,546		$	151,700
Europe		178,175			127,521
Asia/Pacific		51,988			32,038
Corporate Operations		28,512			20,928
	$	446,221		$	332,187
Operating Income:
Americas	$	63,811		$	45,734
Europe		73,517			61,941
Asia/Pacific		21,164			12,168
Corporate Operations		(26,554	)		(18,778	)
	$	131,938		$	101,065