Crocs Falls More Than 2% After Q4 Results
Footwear retailer Crocs (NASDAQ: CROX) released its fiscal fourth-quarter earnings results on Wednesday after the closing bell. In late trading, the stock had lost a little less than 3 percent despite results which topped estimates for the fourth-quarter. The weakness in the stock is likely attributable to first-quarter guidance which may have disappointed investors.
The company reported a Q4 net loss of $3.6 million or $0.04 per share, compared to net income of $5.6 million or $0.06 per share, in last year's fourth-quarter.
On an adjusted basis, which is comparable to analysts' consensus, Crocs reported net income of $3.8 million or $0.04 per share. This beat analysts' EPS expectations of breakeven per share.
Revenue in the quarter was up 10.4 percent to $225 million compared to $203.7 million last year. This also came in better than consensus revenue estimates of $219.92 million.
Looking ahead, Crocs guided for Q1 EPS of $0.32 to $0.34 on revenue of $305 million to $310 million. This is below current consensus of $0.38 on revenue of $308.97 million.
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