Exhibit 99.1

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

Quiksilver, Inc. Reports Fiscal 2011 Third Quarter Financial Results

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Revenues of $503 million grew 14% compared to Q3 last year

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Company earns Pro-forma Adjusted EBITDA of $53 million

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Company unites with city of Long Beach to run Quiksilver Pro New York after Hurricane Irene

     Huntington Beach, California, September 1, 2011—Quiksilver, Inc. (NYSE:ZQK) today announced operating results for the third fiscal quarter ended July 31, 2011. Revenues grew 14% to $503.3 million as compared to $441.5 million in the third quarter of fiscal 2010. Consolidated gross profit of $255.1 million increased 11% compared to $230.7 million in the third quarter a year ago. The company earned Pro-forma Adjusted EBITDA of $52.7 million compared to $53.5 million earned in the third quarter of fiscal 2010. Pro-forma income from continuing operations was $10.4 million, or $0.06 per share, compared to $12.5 million, or $0.08 per share, in the third quarter of fiscal 2010. The company did not record any pro-forma adjustments for the third quarter of fiscal 2011, therefore income from continuing operations was also $10.4 million, or $0.06 per share, compared to $8.2 million, or $0.05 per share, in the third quarter a year ago. 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 pleased with our solid third quarter financial results and feel increasingly positive about our product offerings and the strength of our brands, which are resonating with consumers around the world despite global economic pressures. We’re seeing continued strong growth in emerging and developing markets while our category expansion initiatives are delivering good initial returns, consistent with our longer-term plans.”

     McKnight continued, “And after working closely with city officials over the past few days, we’ve determined that the Quiksilver Pro New York surf contest should and will move forward in an appropriate manner given the impact of Hurricane Irene on the city and residents of Long Beach. We’re eager to bring the world’s best surfers as well as a great surf event to the New York area and in particular to Long Beach, which has an incredible surfing tradition and spirit.”

     Net revenues in the Americas increased 11% during the third quarter of fiscal 2011 to $260.2 million from $234.6 million in the third quarter of fiscal 2010. As measured in U.S. dollars and reported in the financial statements, European net revenues increased 16% during the third quarter of fiscal 2011 to $176.4 million from $151.7 million in the third quarter a year ago. In constant currency, European segment net revenues increased 2% compared to the prior year. As measured in U.S. dollars and reported in the financial statements, Asia/Pacific net revenues increased 20% during the third quarter of fiscal 2011 to $65.5 million from $54.5 million in the third quarter of fiscal 2010. In constant currency, Asia/Pacific segment net revenues decreased 3% compared to the prior year. 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 Third Quarter Financial Results
September 1, 2011
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Q3 Brand Highlights

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Legendary Quiksilver team rider and defending 10-time ASP World Surf Champion Kelly Slater won the US Open of Surfing in Huntington Beach, CA, as well as the ASP tour event in Tahiti, vaulting him into first place in the points standings in the race to become the 2011 World Surf Champion.

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Quiksilver held the grand opening of its newest Boardriders Store in Ericeira, Portugal. The modern-style facility offers a large selection of products representing each of the company’s brands and includes the country’s largest skate park.

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Australian Roxy surfer Sally Fitzgibbons won for the third time on the 2011 ASP Women’s World Tour in capturing the women’s title at the US Open of Surfing. Sally has finished the year ranked #2 in the world for the second time in just three years on tour.

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DC co-founder and World Rally Championship driver Ken Block released the fourth installment of his Gymkhana precision driving series and it rapidly became the fastest-spreading viral video on the Internet with over 7 million views in its first two weeks. The entire Gymkhana franchise has now generated over 120 million views and has fueled the sales of DC’s TeamWorks collection which includes shoes, shirts, hats and jackets inspired by Ken’s rally car livery.

•

The Street League DC Pro Tour completed a second very successful season of skateboarding competitions this past week with the season finale carried on ESPN2. The tour attracted the world’s best skaters including Nyjah Houston, Chris Cole, Sean Malto, Ryan Sheckler, Chaz Ortiz, Shane O’Neill, Billy Marks, Paul Rodriguez and Mikey Taylor.

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DC held the grand opening of the DC Embassy in Barcelona, Spain. This unique industrial-inspired space includes large showroom areas designed to showcase DC’s expanding product line. The complex sits atop a 1300 square meter skate park that will serve as the headquarters for the European members of the DC skate team.

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 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.

Quiksilver, Inc. Reports Fiscal 2011 Third Quarter Financial Results
September 1, 2011
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Forward looking statements:

     This press release contains forward-looking statements including but not limited to statements regarding the company’s 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 Third Quarter Financial Results
September 1, 2011
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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

		Three Months Ended July 31,
In thousands, except per share amounts		2011				2010
Revenues, net		$	503,317			$	441,475
Cost of goods sold			248,199				210,742
Gross profit			255,118				230,733
Selling, general and administrative expense			221,172				193,155
Asset impairments			—				3,225
Operating income			33,946				34,353
Interest expense			15,663				20,630
Foreign currency (gain) loss			(1,456	)			213
Income before provision for income taxes			19,739				13,510
Provision for income taxes			8,996				5,096
Income from continuing operations			10,743				8,414
Income from discontinued operations			—				143
Net income			10,743				8,557
Less: net income attributable to non-controlling interest			(306	)			(251	)
Net income attributable to Quiksilver, Inc.		$	10,437			$	8,306
Income per share from continuing operations attributable to Quiksilver, Inc.		$	0.06			$	0.06
Income per share from discontinued operations attributable to Quiksilver, Inc.		$	—			$	0.00
Net income per share attributable to Quiksilver, Inc.		$	0.06			$	0.06
Income per share from continuing operations attributable to Quiksilver, Inc., assuming dilution		$	0.06			$	0.05
Income per share from discontinued operations attributable to Quiksilver, Inc., assuming dilution		$	—			$	0.00
Net income per share attributable to Quiksilver, Inc., assuming dilution		$	0.06			$	0.06
Weighted average common shares outstanding			162,822				129,756
Weighted average common shares outstanding, assuming dilution			183,488				150,188
Amounts attributable to Quiksilver, Inc.:
Income from continuing operations		$	10,437			$	8,163
Income from discontinued operations			—				143
Net income		$	10,437			$	8,306

Quiksilver, Inc. Reports Fiscal 2011 Third Quarter Financial Results
September 1, 2011
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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

		Nine Months Ended July 31,
In thousands, except per share amounts		2011				2010
Revenues, net		$	1,407,860			$	1,342,501
Cost of goods sold			667,103				640,332
Gross profit			740,757				702,169
Selling, general and administrative expense			648,356				609,731
Asset impairments			74,610				3,225
Operating income			17,791				89,213
Interest expense			59,727				63,542
Foreign currency gain			(5,886	)			(6,380	)
(Loss) income before provision for income taxes			(36,050	)			32,051
Provision for income taxes			49,937				18,189
(Loss) income from continuing operations			(85,987	)			13,862
Income from discontinued operations			—				821
Net (loss) income			(85,987	)			14,683
Less: net income attributable to non-controlling interest			(3,169	)			(2,307	)
Net (loss) income attributable to Quiksilver, Inc.		$	(89,156	)		$	12,376
(Loss) income per share from continuing operations attributable to Quiksilver, Inc.		$	(0.55	)		$	0.09
Income per share from discontinued operations attributable to Quiksilver, Inc.		$	—			$	0.01
Net (loss) income per share attributable to Quiksilver, Inc.		$	(0.55	)		$	0.10
(Loss) income per share from continuing operations attributable to Quiksilver, Inc., assuming dilution		$	(0.55	)		$	0.08
Income per share from discontinued operations attributable to Quiksilver, Inc., assuming dilution		$	—			$	0.01
Net (loss) income per share attributable to Quiksilver, Inc., assuming dilution		$	(0.55	)		$	0.09
Weighted average common shares outstanding			162,198				128,000
Weighted average common shares outstanding, assuming dilution			162,198				143,623
Amounts attributable to Quiksilver, Inc.:
(Loss) income from continuing operations		$	(89,156	)		$	11,555
Income from discontinued operations			—				821
Net (loss) income		$	(89,156	)		$	12,376

Quiksilver, Inc. Reports Fiscal 2011 Third Quarter Financial Results
September 1, 2011
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Quiksilver, Inc. Reports Fiscal 2011 Third Quarter Financial Results
September 1, 2011
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Information related to operating segments is as follows (unaudited):

		Three Months Ended July 31,
In thousands		2011				2010
Revenues, net:
Americas		$	260,159			$	234,630
Europe			176,438				151,675
Asia/Pacific			65,495				54,504
Corporate operations			1,225				666
		$	503,317			$	441,475
Gross Profit:
Americas		$	115,065			$	109,594
Europe			106,451				91,939
Asia/Pacific			34,347				28,728
Corporate operations			(745	)			472
		$	255,118			$	230,733
SG&A Expense:
Americas		$	87,984			$	79,964
Europe			85,402				76,215
Asia/Pacific			36,314				29,168
Corporate operations			11,472				7,808
		$	221,172			$	193,155
Asset Impairments:
Americas		$	¯			$	1,939
Europe			¯				100
Asia/Pacific			¯				1,186
Corporate operations			¯				¯
		$	¯			$	3,225
Operating Income (Loss):
Americas		$	27,081			$	27,691
Europe			21,049				15,624
Asia/Pacific			(1,967	)			(1,626	)
Corporate operations			(12,217	)			(7,336	)
		$	33,946			$	34,353

Quiksilver, Inc. Reports Fiscal 2011 Third Quarter Financial Results
September 1, 2011
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		Nine Months Ended July 31,
In thousands		2011				2010
Revenues, net:
Americas		$	664,618			$	621,324
Europe			548,578				538,260
Asia/Pacific			190,636				180,201
Corporate operations			4,028				2,716
		$	1,407,860			$	1,342,501
Gross Profit:
Americas		$	308,032			$	283,606
Europe			332,083				321,300
Asia/Pacific			101,842				97,171
Corporate operations			(1,200	)			92
		$	740,757			$	702,169
SG&A Expense:
Americas		$	256,117			$	237,516
Europe			250,388				247,979
Asia/Pacific			108,961				92,804
Corporate operations			32,890				31,432
		$	648,356			$	609,731
Asset Impairments:
Americas		$	465			$	1,939
Europe			¯				100
Asia/Pacific			74,145				1,186
Corporate operations			¯				¯
		$	74,610			$	3,225
Operating Income (Loss):
Americas		$	51,450			$	44,151
Europe			81,695				73,221
Asia/Pacific			(81,264	)			3,181
Corporate operations			(34,090	)			(31,340	)
		$	17,791			$	89,213

Quiksilver, Inc. Reports Fiscal 2011 Third Quarter Financial Results
September 1, 2011
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GAAP TO PRO-FORMA RECONCILIATION (Unaudited)

		Three Months Ended
		July 31,
In thousands, except per share amounts		2011				2010
Income from continuing operations attributable to Quiksilver, Inc.		$	10,437			$	8,163
Restructuring charges, net of tax of $0 (2011) and $164 (2010)			¯				1,765
Non-cash asset impairment charges, net of tax of $0 (2011) and $616 (2010)			¯				2,609
Pro-forma income from continuing operations		$	10,437			$	12,537
Pro-forma income per share from continuing operations		$	0.06			$	0.10
Pro-forma income per share from continuing operations, assuming dilution		$	0.06			$	0.08
Weighted average common shares outstanding			162,822				129,756
Weighted average common shares outstanding, assuming dilution			183,488				150,188

		Nine Months Ended
		July 31,
In thousands, except per share amounts		2011				2010
(Loss) income from continuing operations attributable to Quiksilver, Inc.		$	(89,156	)		$	11,555
Non-cash asset impairment charges, net of tax of $0 (2011) and $616 (2010)			74,610				2,609
Effect of APAC tax valuation allowance			25,980				¯
Non-cash interest charges, net of tax of $4,618 (2011) and $0 (2010)			10,691				¯
Restructuring (credits) charges, net of tax of $0 (2011) and $271 (2010)			(2,118	)			7,612
Stock compensation expense			¯				5,240
Gain from sale of Raisins trademarks			¯				(1,252	)
Pro-forma income from continuing operations		$	20,007			$	25,764
Pro-forma income per share from continuing operations		$	0.12			$	0.20
Pro-forma income per share from continuing operations, assuming dilution		$	0.11			$	0.18
Weighted average common shares outstanding			162,198				128,000
Weighted average common shares outstanding, assuming dilution			182,688				143,623

Quiksilver, Inc. Reports Fiscal 2011 Third Quarter Financial Results
September 1, 2011
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ADJUSTED EBITDA and PRO-FORMA ADJUSTED EBITDA RECONCILIATION
(Unaudited)

		Three Months Ended
		July 31,
In thousands		2011				2010
Income from continuing operations attributable to Quiksilver, Inc.		$	10,437			$	8,163
Provision for income taxes			8,996				5,096
Interest expense			15,663				20,630
Depreciation and amortization			12,684				13,192
Non-cash stock-based compensation expense			4,935				1,279
Non-cash asset impairments			¯				3,225
Adjusted EBITDA		$	52,715			$	51,585
Restructuring and other special charges			¯				1,929
Pro-forma Adjusted EBITDA		$	52,715			$	53,514

		Nine Months Ended
		July 31,
In thousands		2011				2010
(Loss) income from continuing operations attributable to Quiksilver, Inc.		$	(89,156	)		$	11,555
Provision for income taxes			49,937				18,189
Interest expense			59,727				63,542
Depreciation and amortization			40,154				40,215
Non-cash stock-based compensation expense			9,916				11,414
Non-cash asset impairments			74,610				3,225
Adjusted EBITDA		$	145,188			$	148,140
Restructuring and other special (credits) charges			(2,118	)			6,631
Pro-forma Adjusted EBITDA		$	143,070			$	154,771

     Definition of Adjusted EBITDA:

     Adjusted EBITDA is defined as income (loss) 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

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September 1, 2011
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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.

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 operating segment. As such, this methodology does not account for movements in individual currencies within a 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 July 31, 2010 and 2011 (in thousands):

Historical currency (as reported)		Americas				Europe				Asia/Pacific				Corporate				Total
July 31, 2010			234,630				151,675				54,504				666				441,475
July 31, 2011			260,159				176,438				65,495				1,225				503,317
Percentage increase			11	%			16	%			20	%							14	%

Constant currency (current year exchange rates)
July 31, 2010			234,630				173,647				67,199				666				476,142
July 31, 2011			260,159				176,438				65,495				1,225				503,317
Percentage increase (decrease)			11	%			2	%			(3	%)							6	%