8-K/A

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K/A

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

June 6, 2005

Quiksilver, Inc.

(Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation)	0-15131 (Commission File Number)	33-0199426 (IRS Employer Identification Number)
15202 Graham Street, Huntington Beach, CA (Address of principal executive offices)		92649 (Zip Code)

Registrant’s telephone number, including area code:
(714) 889-2200

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

	Item 2.02 Results of Operations and Financial Condition
	Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
	Item 9.01 Financial Statements and Exhibits
SIGNATURES
INDEX TO EXHIBITS
EXHIBIT 99.1

Item 2.02 Results of Operations and Financial Condition

     The purpose of this Current Report on Form 8-K is to furnish the press release issued by Quiksilver, Inc. on June 6, 2005 announcing its financial results for quarter ended April 30, 2005. The press release is attached hereto as Exhibit 99.1.

     The information in this Form 8-K and Exhibit shall not be deemed filed for purposes of Section 18 of Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any such filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

     On June 3, 2005, the Board of Directors of the Company, upon the recommendation of the Company’s Nominating and Governance Committee, appointed Douglas Ammerman to the Board of Directors. Mr. Ammerman, 53, is a Certified Public Accountant and has a Masters Degree in Business Taxation from the University of Southern California. He began his career in 1973 with Peat, Marwick, Mitchell (now KPMG). He was admitted to the KPMG partnership in 1984 and formally retired from KPMG in 2002. Mr. Ammerman was also appointed Chairman of the Company’s Audit Committee and a member of the Nominating and Governance Committee.

Item 9.01 Financial Statements and Exhibits

     (c) Exhibits

               The following exhibits are being furnished herewith:

Exhibit No.	Exhibit Title or Description
99.1	Press Release dated June 6, 2005, issued by Quiksilver, Inc.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: June 6, 2005	Quiksilver, Inc. (Registrant)
	By:	/s/Steven L. Brink
		Name:	Steven L. Brink
		Title:	Chief Financial Officer and Treasurer

INDEX TO EXHIBITS

Exhibit Number	Exhibit Title or Description
99.1	Press Release, dated June 6, 2005, issued by Quiksilver, Inc.

EX-99.1

Exhibit 99.1

PRESS RELEASE

	Company Contact:	Robert B. McKnight, Jr.
		Chairman & CEO
		Steven L. Brink
		Chief Financial Officer
		Quiksilver, Inc.
FOR IMMEDIATE RELEASE		(714) 889-2200
	Investor Relations:	James Palczynski/Chad Jacobs
		Integrated Corporate Relations
		(203) 682-8200

QUIKSILVER, INC. REPORTS 2005 SECOND QUARTER FINANCIAL RESULTS

— Second Quarter 2005 Net Revenues Increase 32% —
— Second Quarter 2005 Earnings Per Share of $ 0.28 Exceeds Consensus Estimate —

     HUNTINGTON BEACH, CALIFORNIA, JUNE 6, 2005  - - - Quiksilver, Inc. (NYSE:ZQK) today announced operating results for the second quarter ended April 30, 2005.

     Consolidated net revenues for the second quarter of fiscal 2005 increased 32% to $426.9 million as compared to fiscal 2004 second quarter consolidated net revenues of $322.6 million. Consolidated net income for the second quarter of fiscal 2005 increased 25% to $34.7 million as compared to $27.8 million the year before. Second quarter fully diluted earnings per share was $0.28 versus $0.24 for the second quarter of fiscal 2004, both amounts as adjusted for the two-for-one stock split that took effect in May 2005.

     Robert B. McKnight, Jr., Chairman of the Board and Chief Executive Officer of Quiksilver, Inc., commented, “We are pleased to report strong results and exceed expectations for the 14th consecutive quarter. The upside to our plan for the quarter was broad-based and driven by better than expected results from each of our three regional operating groups.”

     Net revenues in the Americas increased 34% during the second quarter of fiscal 2005 to $199.2 million as compared to fiscal 2004 second quarter net revenues of $148.5 million. As measured in U.S. dollars and reported in the financial statements, European net revenues increased 26% during the second quarter of fiscal 2005 to $176.3 million as compared to fiscal 2004 second quarter European net revenues of $140.3 million. As measured in euros, European net revenues increased 18% for those same periods. Asia/Pacific net revenues increased 52% to $50.3 million in the second quarter of fiscal 2005 compared to $33.2 million in the second

- more -

2005 Second Quarter Results
June 6, 2005 — Page 2

quarter of fiscal 2004. As measured in Australian dollars, Asia/Pacific net revenues increased 47% for those same periods.

     Mr. McKnight continued, “In addition to delivering a good quarterly performance, we maintain the position of our business for sustained growth. We have excellent opportunities across our portfolio of brands, by category, by tier of distribution, by region, and by gender. We continue to look toward the future enthusiastically, especially as we anticipate the addition of the Rossignol businesses and brands, which will provide us with even more vehicles for growth.”

     Consolidated inventories increased 40% to $177.8 million at April 30, 2005 from $127.3 million at April 30, 2004. Inventories grew 36% in constant dollars. Consolidated trade accounts receivable growth is in line with the increase in net revenues, increasing 33% to $342.0 million at April 30, 2005 from $257.1 million at April 30, 2004.

     Bernard Mariette, President of Quiksilver, Inc., commented, “The excellent results we are reporting today are once again a tribute to the strength of our operating teams around the world. Also today in France, we have launched our tender offer to acquire the publicly traded shares of the Rossignol Group. The plans we are developing for the integration of our two groups are very exciting. I can’t speak now about them in detail, but there are many things to share once the transaction closes, which we expect at the end of July. Both the Quiksilver and Rossignol teams are strongly embracing our vision to become the number one company in the global outdoor market. It’s all coming together at the right time, as next week in a town near our European headquarters in Southwest France, we will be celebrating the grand opening of our new retail concept, which will cover the entire outdoor world by featuring both Andaska and our new Quiksilver shop. I believe this will be a milestone much like our opening on the Champs-Elyseés.”

     Mr. McKnight concluded, “While we continue to achieve record levels of sales and earnings, never have our opportunities been larger. We look forward to continuing to capitalize on our strategic position and once again, demonstrating our superior ability to drive shareholder value.”

2005 Second Quarter Results
June 6, 2005 — Page 3

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, Radio Fiji and Island Soul labels. Quiksilver also designs 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.

* * * * *

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.

* * * * *

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 and
http://www.fidragolf.com

2005 Second Quarter Results
June 6, 2005 — Page 4

CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

	Three Months Ended April 30,
In thousands, except per share amounts	2005			2004
Revenues, net	$	426,853		$	322,579
Cost of goods sold		233,488			175,536
Gross profit		193,365			147,043
Selling, general and administrative expense		139,314			104,647
Operating income		54,051			42,396
Interest expense		3,269			1,476
Foreign currency gain		(288	)		(1,180	)
Other (income) expense		(61	)		227
Income before provision for income taxes		51,131			41,873
Provision for income taxes		16,464			14,083
Net income	$	34,667		$	27,790
Net income per share	$	0.29		$	0.25
Net income per share, assuming dilution	$	0.28		$	0.24
Weighted average common shares outstanding		118,169			112,340
Weighted average common shares outstanding, assuming dilution		123,791			117,370

2005 Second Quarter Results
June 6, 2005 — Page 5

CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

	Six Months Ended April 30,
In thousands, except per share amounts	2005		2004
Revenues, net	$	769,713	$	578,721
Cost of goods sold		423,442		318,009
Gross profit		346,271		260,712
Selling, general and administrative expense		268,797		199,382
Operating income		77,474		61,330
Interest expense		5,058		3,065
Foreign currency loss		175		2,087
Other expense		145		509
Income before provision for income taxes		72,096		55,669
Provision for income taxes		23,215		18,705
Net income	$	48,881	$	36,964
Net income per share	$	0.41	$	0.33
Net income per share, assuming dilution	$	0.40	$	0.32
Weighted average common shares outstanding		117,877		111,786
Weighted average common shares outstanding, assuming dilution		123,448		116,634

2005 Second Quarter Results
June 6, 2005 — Page 6

CONSOLIDATED BALANCE SHEETS (Unaudited)

	April 30, 2005			October 31, 2004
Amounts in thousands
ASSETS
Current assets:
Cash and cash equivalents	$	68,009		$	55,197
Trade accounts receivable, less allowance for doubtful accounts of $12,607 (2005) and $11,367 (2004)		342,035			281,263
Other receivables		22,869			16,165
Inventories		177,842			179,605
Deferred income taxes		25,466			22,299
Deposit on planned acquisition		59,085			—
Prepaid expenses and other current assets		23,649			12,267
Total current assets		718,955			566,796
Fixed assets, net		130,695			122,787
Intangibles, net		123,255			121,116
Goodwill		172,738			169,785
Deferred income taxes		2,279			—
Other assets		17,994			10,506
Total assets	$	1,165,916		$	990,990
LIABILITIES & STOCKHOLDERS’ EQUITY
Current Liabilities:
Lines of credit	$	24,025		$	10,801
Accounts payable		110,492			105,054
Accrued liabilities		56,248			79,095
Current portion of long-term debt		9,148			10,304
Income taxes payable		20,977			18,442
Total current liabilities		220,890			223,696
Long-term debt		269,514			163,209
Deferred income taxes		21,855			15,841
Total liabilities		512,259			402,746
Stockholders’ equity:
Preferred stock		—			—
Common stock		1,213			1,203
Additional paid-in capital		206,925			200,118
Treasury stock		(6,778	)		(6,778	)
Retained earnings		407,804			358,923
Accumulated other comprehensive income		44,493			34,778
Total stockholders’ equity		653,657			588,244
Total liabilities & stockholders’ equity	$	1,165,916		$	990,990

2005 Second Quarter Results
June 6, 2005 — Page 7

Information related to geographic segments is as follows:

	Three Months Ended April 30,
Amounts in thousands	2005			2004
Revenues, net:
Americas	$	199,192		$	148,536
Europe		176,272			140,286
Asia/Pacific		50,331			33,205
Corporate operations		1,058			552
	$	426,853		$	322,579
Gross Profit:
Americas	$	76,697		$	61,044
Europe		90,595			69,053
Asia/Pacific		25,541			16,229
Corporate operations		532			717
	$	193,365		$	147,043
SG&A Expense:
Americas	$	53,272		$	42,115
Europe		56,891			42,795
Asia/Pacific		19,201			12,397
Corporate operations		9,950			7,340
	$	139,314		$	104,647
Operating Income:
Americas	$	23,425		$	18,929
Europe		33,704			26,258
Asia/Pacific		6,340			3,832
Corporate operations		(9,418	)		(6,623	)
	$	54,051		$	42,396