Shares of $ZQK (Quiksilver) soared 14% higher after releasing very positive earnings. Revenue was stronger than expected in the fiscal second quarter, rising 2% to $478.1 million. Earnings per share were also strong coming in at $0.09, two cents better than estimates. Stronger profit was driven by margins expanding 1.6% from a year ago to a record 54.8%. Debt was also down 19% from a year ago to $594 million. Slowly, $ZQK's financial position is improving. With a forward P/E ratio of just 13, shares have more room to run. Also, $ZQK has perfect backtesting statistics of our pennystocks100 strategy. Sounds like a good set up for Monday.
Backtested Symbol: ZQK
Strategy: Pennystocks100 (5 min chart)
Period: Jun 6, 2010 - Jun 6, 2011
# Win: 4
# Loss: 0
Winners: 100%
Profit-Loss%: +7.21%
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