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Quiksilver's income increases to $24.6 million in the quarter

California-based Quiksilver Inc. on Thursday reported net income of $24.6 million, or 20 cents per share, for the fiscal third quarter. That compares with $19.5 million, or 16 cents per share, for the year-ago quarter.

The earnings for the most recent quarter matched the consensus Wall Street expectation.

Revenues totaled $373.8 million, up from $337.9 million in the year-earlier quarter.

The sports equipment and apparel company said this week it would combine all of its U.S. mountain sports businesses in Park City and have a Salt Lake-area distribution center, both by next spring.

Quiksilver stock fell 23 cents Friday to close at $15.70 per share on the New York Stock Exchange. In the past year, the price has ranged from $11.25 to $18.12.