Crocs Falls 11% on Light Q1 Guidance
Niwot, Colorado based footwear apparel maker Crocs, Inc. (NASDAQ: CROX) released its fiscal fourth quarter earnings results after the closing bell on Thursday. The company reported net income of $5.6 million or $0.06 per share, compared to $4.7 million or $0.05 per share, in the year ago period. This compared to consensus Wall Street EPS estimates of $0.04.
Revenues for the quarter were up 14% to $203.7 million versus $179.2 million in last year's fourth quarter. This missed Street consensus revenue estimates of $205.27 million.
Looking ahead, CROX sees Q1 EPS between $0.24 and $0.26 on revenue of between $263 million and $268 million. This compares to current consensus EPS estimates of $0.30 on revenue of $268.74 million for the first quarter.
The stock is getting roughed up in the after hours on Thursday on account of the light Q1 guidance and the revenue miss for the fourth quarter. CROX shares were last trading down roughly 11% to $18.30 in the wake of the report.
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