Exhibit 99.1

Company Contact:		Bruce Thomas Vice President, Investor Relations Quiksilver, Inc. +1 (714)889-2200

Quiksilver, Inc. Reports Fiscal 2011 First Quarter Financial Results

-		Revenues of $426 million were ahead of plan and up compared to last year in constant currency
-		Gross Profit surpasses prior year as margin expands
-		Pro-forma Adjusted EBITDA in line with plan and on track for full fiscal year
-		Net Debt at January 31 reduced $237 million to $541 million

Huntington Beach, California, March 10, 2011—Quiksilver, Inc. (NYSE:ZQK) today announced operating results for the first fiscal quarter ended January 31, 2011. Revenues were $426.5 million as compared to $432.7 million in the first quarter of fiscal 2010 but were up compared to the same period last year in constant currency. Consolidated gross profit of $223.5 million exceeded that of the first quarter of fiscal 2010 as gross margin expanded 110 basis points to 52.4% of revenues. As previously communicated, the company invested in several new business initiatives in the first quarter ahead of revenue generation. Therefore, pro-forma Adjusted EBITDA of $28.2 million was down $10.6 million, as planned, compared to the same quarter a year ago. This result was in line with the company’s expectations for the first quarter, in which revenues are historically lower than for the remaining three quarters of the year. The pro-forma loss from continuing operations was $7.7 million or $0.05 per share compared to a loss of $2.5 million or $0.02 per share in the first quarter of fiscal 2010. The pro-forma loss for the first quarter of fiscal 2011 excludes $8.6 million of net after-tax charges, primarily comprised of a non-cash write-off of deferred debt issuance costs associated with previous financings. Including this amount, the loss from continuing operations was $16.3 million, or $0.10 per share, compared to $5.4 million, or $0.04 per share, for the first quarter of fiscal 2010. A reconciliation of GAAP results to pro-forma results is provided in the accompanying tables.

Robert B. McKnight, Jr., Chairman of the Board, Chief Executive Officer and President of Quiksilver, Inc., commented, “We’re very pleased with our results for the first quarter. Our top line and operating performance continue to improve with revenues up in constant currency for the first time in 9 quarters and gross profit margins expanding to 52.4% as the level of discounting in our business continues to decline. We also feel very good about new growth initiatives presently underway. As we’ve indicated in the past, now that our financial restructuring is complete, we have shifted our focus toward investing in our brands and their long-term potential. Looking forward, we expect fiscal 2011 as a whole to be a transition year with growth accelerating in the second half of the year and beyond as these initiatives gain traction.”

Net revenues in the Americas increased 4% during the first quarter of fiscal 2011 to $193.8 million from $187.0 million in the first quarter of fiscal 2010. In constant currency, European segment net revenues increased 1% in the first quarter of fiscal 2011 compared to the prior year. As measured in U.S. dollars and reported in the financial statements, European net revenues decreased 7% to $165.2 million from $177.9 million in the first quarter of fiscal 2010. In constant currency, Asia/Pacific segment net revenues decreased 8% in the first quarter of fiscal 2011 compared to the prior year. As measured in U.S. dollars and reported in the financial statements, Asia/Pacific net revenues remained unchanged at $67.0 million as compared to $67.1 million in the first quarter of fiscal 2010. Please refer to the accompanying tables in order to better understand the impact of foreign currency exchange rates on revenue trends in the European and Asia/Pacific segments.

Quiksilver, Inc. Reports Fiscal 2011 First Quarter Financial Results
March 10, 2011
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In December, the company completed its previously-announced sale of €200 million aggregate principal amount of 8.875% Senior Notes due 2017 by its wholly-owned European subsidiary, Boardriders S.A. Quiksilver used the proceeds of the offering to repay approximately €190 million of existing secured European term loans and to pay related fees and expenses. As a result, the company eliminated certain collateral obligations, extended its debt maturities and eliminated certain restrictions on the transfer of cash between its subsidiaries.

Q1 Brand Highlights

•

Quiksilver and the Association of Surfing Professionals (ASP) announced the Quiksilver Pro New York surf competition, set to take place on Long Island’s Long Beach from September 4-15. The Quiksilver Pro New York will be the 6th stop on the ASP 2011 World Tour and the first-ever World Championship Tour stop on the east coast of the United States. The surf contest will coincide with a series of events for enthusiasts of surf, skate, art and music who are expected to gather in New York as summer comes to a close. The Quiksilver Pro New York will expand the Quiksilver Pro Global Series, which also includes the Quiksilver Pro Gold Coast in Australia (February 26-March 9) and the Quiksilver Pro France (October 4-15).

•

Quiksilver announced the signing of 4-time defending ASP Women’s World Champion surfer Stephanie Gilmore to a 5-year endorsement agreement. Gilmore joined the Quiksilver surf team and has become a brand ambassador representing Quiksilver’s lines for women. The addition of Gilmore coincides with the recent debut of Quiksilver’s new global girls line, targeting 18-24-year-old females.

•

DC Shoes announced the signing of Chris Cole, one of the best and most influential skaters of his generation. Cole, who has now joined the DC skate team, is only the second skater to become Thrasher Magazine’s “Skater of the Year” twice — after DC’s Danny Way — and he has also been honored with TransWorld SKATEboarding Magazine’s “Readers Choice Award.”

Company Outlook

Addressing its outlook, the company confirmed that it continues to expect full-year revenues to be slightly above those of fiscal 2010 and pro-forma Adjusted EBITDA to be roughly in line with last year.

About Quiksilver:

Quiksilver, Inc. (NYSE:ZQK) is the world’s leading outdoor sports lifestyle company, which designs, produces and distributes a diversified mix of branded apparel, footwear, accessories, snowboards and related products. The company’s apparel and footwear brands represent a casual lifestyle for young-minded people that connect with its boardriding culture and heritage.

The reputation of Quiksilver’s brands is based on outdoor action sports. The company’s Quiksilver, Roxy, DC, Lib Tech and Hawk brands are synonymous with the heritage and culture of surfing, skateboarding and snowboarding.

The company’s products are sold in over 90 countries in a wide range of distribution, including surf shops, skate shops, snow shops, its proprietary Boardriders Club shops and

Quiksilver, Inc. Reports Fiscal 2011 First Quarter Financial Results
March 10, 2011
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other company-owned retail stores, other specialty stores and select department stores. Quiksilver’s corporate and Americas’ headquarters are in Huntington Beach, California, while its European headquarters are in St. Jean de Luz, France, and its Asia/Pacific headquarters are in Torquay, Australia.

Forward looking statements:

This press release contains forward-looking statements including but not limited to statements regarding the company’s revenue guidance, pro-forma Adjusted EBITDA guidance, seasonality, new growth initiatives and other future activities. 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 sections titled “Risk Factors” and “Forward-Looking Statements” in Quiksilver’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

* * * * *

NOTE: For further information about Quiksilver, Inc., you are invited to take a look at our
world at www.quiksilver.com, www.roxy.com, www.dcshoes.com,
www.lib-tech.com and www.hawkclothing.com.

Quiksilver, Inc. Reports Fiscal 2011 First Quarter Financial Results
March 10, 2011
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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

		Three Months Ended January 31,
In thousands, except per share amounts		2011				2010
Revenues, net		$	426,450			$	432,737
Cost of goods sold			202,980				210,588
Gross profit			223,470				222,149
Selling, general and administrative expense			210,436				203,160
Operating income			13,034				18,989
Interest expense			28,968				21,873
Foreign currency gain			(2,109	)			(1,979	)
Other expense			—				5
Loss before provision for income taxes			(13,825	)			(910	)
Provision for income taxes			1,251				3,674
Loss from continuing operations			(15,076	)			(4,584	)
Income from discontinued operations			—				76
Net loss			(15,076	)			(4,508	)
Less: net income attributable to non-controlling interest			(1,192	)			(846	)
Net loss attributable to Quiksilver, Inc.		$	(16,268	)		$	(5,354	)
Loss per share from continuing operations attributable to Quiksilver, Inc.		$	(0.10	)		$	(0.04	)
Income per share from discontinued operations attributable to Quiksilver, Inc.		$	—			$	0.00
Net loss per share attributable to Quiksilver, Inc.		$	(0.10	)		$	(0.04	)
Loss per share from continuing operations attributable to Quiksilver, Inc., assuming dilution		$	(0.10	)		$	(0.04	)
Income per share from discontinued operations attributable to Quiksilver, Inc., assuming dilution		$	—			$	0.00
Net loss per share attributable to Quiksilver, Inc., assuming dilution		$	(0.10	)		$	(0.04	)
Weighted average common shares outstanding			161,614				127,648
Weighted average common shares outstanding, assuming dilution			161,614				127,648
Amounts attributable to Quiksilver, Inc.:
Loss from continuing operations		$	(16,268	)		$	(5,430	)
Income from discontinued operations			—				76
Net loss		$	(16,268	)		$	(5,354	)

Quiksilver, Inc. Reports Fiscal 2011 First Quarter Financial Results
March 10, 2011
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CONSOLIDATED BALANCE SHEETS (Unaudited)

		January 31,				January 31,
In thousands		2011				2010
ASSETS
Current assets:
Cash and cash equivalents		$	177,192			$	149,561
Restricted cash			—				49,352
Trade accounts receivable, less allowance for doubtful accounts of $44,558 (2011) and $48,156 (2010)			287,458				322,959
Other receivables			35,404				28,832
Inventories			309,561				301,216
Deferred income taxes — short-term			40,110				63,220
Prepaid expenses and other current assets			27,550				40,698
Current assets held for sale			—				86
Total current assets			877,275				955,924
Fixed assets, net			217,929				225,320
Intangibles, net			139,958				141,995
Goodwill			330,266				324,431
Other assets			50,479				76,017
Deferred income taxes — long-term			81,510				58,586
Total assets		$	1,697,417			$	1,782,273
LIABILITIES & EQUITY
Current liabilities:
Lines of credit		$	15,540			$	24,927
Accounts payable			211,148				203,232
Accrued liabilities			109,172				91,222
Current portion of long-term debt			5,594				93,314
Income taxes payable			719				14,202
Current liabilities of assets held for sale			—				324
Total current liabilities			342,173				427,221
Long-term debt			697,043				858,324
Other long-term liabilities			56,524				40,573
Total liabilities			1,095,740				1,326,118
Equity:
Common stock			1,675				1,318
Additional paid-in capital			518,347				370,878
Treasury stock			(6,778	)			(6,778	)
Accumulated deficit			(27,575	)			(6,977	)
Accumulated other comprehensive income			105,747				89,424
Total Quiksilver, Inc. stockholders’ equity			591,416				447,865
Non-controlling interest			10,261				8,290
Total equity			601,677				456,155
Total liabilities & equity		$	1,697,417			$	1,782,273

Quiksilver, Inc. Reports Fiscal 2011 First Quarter Financial Results
March 10, 2011
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Information related to operating segments is as follows (unaudited):

		Three Months Ended January 31,
In thousands		2011				2010
Revenues, net:
Americas		$	193,790			$	186,961
Europe			165,199				177,877
Asia/Pacific			67,001				67,052
Corporate operations			460				847
		$	426,450			$	432,737
Gross Profit:
Americas		$	89,466			$	81,015
Europe			97,300				104,253
Asia/Pacific			36,633				37,043
Corporate operations			71				(162	)
		$	223,470			$	222,149
SG&A Expense:
Americas		$	82,994			$	76,361
Europe			80,417				85,804
Asia/Pacific			34,830				31,377
Corporate operations			12,195				9,618
		$	210,436			$	203,160
Operating Income (Loss):
Americas		$	6,472			$	4,654
Europe			16,883				18,449
Asia/Pacific			1,803				5,666
Corporate operations			(12,124	)			(9,780	)
		$	13,034			$	18,989

Quiksilver, Inc. Reports Fiscal 2011 First Quarter Financial Results
March 10, 2011
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GAAP TO PRO-FORMA RECONCILIATION (UNAUDITED)

		Three Months Ended
		January 31,
In thousands, except per share amounts		2011				2010
Loss from continuing operations attributable to Quiksilver, Inc.		$	(16,268	)		$	(5,430	)
Restructuring (credits) charges, net of tax of $0 (2011) and $87 (2010)			(2,118	)			2,977
Non-cash interest charges, net of tax of $4,618 (2011) and $0 (2010)			10,691				—
Pro-forma loss from continuing operations		$	(7,695	)		$	(2,453	)
Pro-forma loss per share from continuing operations		$	(0.05	)		$	(0.02	)
Pro-forma loss per share from continuing operations, assuming dilution		$	(0.05	)		$	(0.02	)
Weighted average common shares outstanding			161,614				127,648
Weighted average common shares outstanding, assuming dilution			161,614				127,648

Quiksilver, Inc. Reports Fiscal 2011 First Quarter Financial Results
March 10, 2011
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ADJUSTED EBITDA and PRO-FORMA ADJUSTED EBITDA RECONCILIATION

		Three Months Ended
		January 31,
Amounts in thousands		2011				2010
Loss from continuing operations attributable to Quiksilver, Inc.		$	(16,268	)		$	(5,430	)
Provision for income taxes			1,251				3,674
Interest expense			28,968				21,873
Depreciation and amortization			14,000				13,570
Non-cash stock-based compensation expense			2,410				2,132
Adjusted EBITDA		$	30,361			$	35,819
Restructuring (credits) charges			(2,118	)			3,064
Pro-forma Adjusted EBITDA		$	28,243			$	38,883

Definition of Adjusted EBITDA:

Adjusted EBITDA is defined as income from continuing operations attributable to Quiksilver, Inc. before (i) interest expense, (ii) income tax expense, (iii) depreciation and amortization, (iv) non-cash stock-based compensation expense and (v) asset impairments. Adjusted EBITDA is not defined under generally accepted accounting principles (“GAAP”), and it may not be comparable to similarly titled measures reported by other companies. We use Adjusted EBITDA, along with other GAAP measures, as a measure of profitability because Adjusted EBITDA helps us to compare our performance on a consistent basis by removing from our operating results the impact of our capital structure, the effect of operating in different tax jurisdictions, the impact of our asset base, which can differ depending on the book value of assets, the accounting methods used to compute depreciation and amortization, the existence or timing of asset impairments and the effect of non-cash stock-based compensation expense. We believe EBITDA is useful to investors as it is a widely used measure of performance and the adjustments we make to EBITDA provide further clarity on our profitability. We remove the effect of non-cash stock-based compensation from our earnings which can vary based on share price, share price volatility and expected life of the equity instruments we grant. In addition, this stock-based compensation expense does not result in cash payments by us. We remove the effect of asset impairments from Adjusted EBITDA for the same reason that we remove depreciation and amortization as it is part of the impact of our asset base. Adjusted EBITDA has limitations as a profitability measure in that it does not include the interest expense on our debts, our provisions for income taxes, the effect of our expenditures for capital assets and certain intangible assets, the effect of non-cash stock-based compensation expense and the effect of asset impairments.

Quiksilver, Inc. Reports Fiscal 2011 First Quarter Financial Results
March 10, 2011
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SUPPLEMENTAL EXCHANGE RATE INFORMATION
(UNAUDITED)

In order to better understand growth rates in our foreign operating segments, we make reference to constant currency. Constant currency reporting improves visibility into actual growth rates as it adjusts for the effect of changing foreign currency exchange rates from period to period. Constant currency is calculated by taking the ending foreign currency exchange rate (for balance sheet items) or the average foreign currency exchange rate (for income statement items) used in translation for the current period and applying that same rate to the prior period. Our European segment is translated into constant currency using euros and our Asia/Pacific segment is translated into constant currency using Australian dollars as these are the primary functional currencies of each reporting segment. As such, this methodology does not account for movements in individual currencies within an operating segment (for example, non-euro currencies within our European segment and Japanese yen within our Asia/Pacific segment). A constant currency translation methodology that accounts for movements in each individual currency could yield a different result compared to using only euros and Australian dollars. The following table presents revenues by segment in both historical currency and constant currency for the three months ended January 31, 2010 and 2011 (in thousands):

Historical currency (as reported)		Americas				Europe				Asia/Pacific				Corporate				Total
January 31, 2010			186,961				177,877				67,052				847				432,737
January 31, 2011			193,790				165,199				67,001				460				426,450
Percentage increase (decrease)			4	%			(7	%)			(0	%)							(1	%)
Constant currency (current year exchange rates)
January 31, 2010			186,961				163,607				73,143				847				424,558
January 31, 2011			193,790				165,199				67,001				460				426,450
Percentage increase (decrease)			4	%			1	%			(8	%)							0	%