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Crocs Reports Third-Quarter Loss

Crocs Inc. on Wednesday reported a loss of $1.5 million in its third quarter.
Crocs store Holland | Source: Open Travel
By
  • Associated Press

NIWOT, United States — Crocs Inc. on Wednesday reported a loss of $1.5 million in its third quarter.

The Niwot, Colorado-based company said it had a loss of 7 cents per share. Losses, adjusted for non-recurring costs, came to 3 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.

The footwear company posted revenue of $245.9 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $249.4 million.

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For the current quarter ending in December, Crocs said it expects revenue in the range of $185 million to $195 million. Analysts surveyed by Zacks had expected revenue of $213.1 million.

The company expects full-year revenue in the range of $1.03 billion to $1.04 billion.

Crocs shares have decreased 24 percent since the beginning of the year. The stock has fallen 22 percent in the last 12 months.

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[ A Chip Off the Old Croc: The Ugly Shoe Is Back ]

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