Quiksilver Expects Reduced Earnings: Quiksilver Inc., a...

Quiksilver Expects Reduced Earnings: Quiksilver Inc., a the Newport Beach-based clothing designer, said that its earnings for the second and third quarters will be down from year-earlier figures. Quiksilver Chairman John C. Warner said smaller retailers are canceling orders of Quiksilver merchandise because of difficulties in obtaining credit. The company has also had problems because of late shipments of goods made in Mexico. Warner predicted that sales in the United States and Europe of $32 million to $35 million for the second quarter, down from $29.8 million last year. Net income for the quarter is expected to range from $3 million to $3.4 million, down from $3.7 million in the 1990 period.