Even though outdoor sportswear firm Quiksilver believes its fourth quarter sales have fallen by up to 9% on the same period last year, it says this result is better than expected.

The firm estimates its fourth quarter fiscal 2010 net revenues were between $492m and $497m, compared to net revenues of $538.7m for the fourth quarter ended 31 October.

The company indicated in a sales update that full-year net revenues for fiscal 2010 were between $1,835m and $1,840m, compared to net revenues of $1,977.5m for fiscal 2009.

"These preliminary estimated results are higher than the most recent outlook provided in September, at which time the company had expected fourth quarter revenues to be down in the mid-teens on a percentage basis compared to the same quarter a year ago and anticipated that full-year fiscal 2010 pro-forma Adjusted EBITDA would be up approximately 25% when compared to fiscal 2009," a statement added.

The company plans to issue a press release disclosing fiscal 2010 fourth quarter earnings results soon after the close of market on Thursday 16 December.