WASHINGTON (dpa-AFX) - Crocs Inc. (CROX) reported that its third-quarter net income decreased to $13.04 million or $0.15 per share, from $45.08 million or $0.49 per share, last year. Adjusted net income was $16.12 million or $0.18 per share, for the quarter.
On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.18 for the quarter. Analysts' estimates typically exclude special items.
Revenues decreased to $288.52 million, from $295.57 million, a year ago. Analysts expected revenue of $291.69 million for the quarter.
For the fourth quarter of 2013, the company expects revenue between $220 million and $225 million and a loss between $0.20 and $0.23 per share. Analysts expect the company to report a fourth-quarter loss per share of $0.03 on revenue of $233.50 million.
On October 29, 2013, the company's board approved the repurchase of up to an additional 15.0 million shares under the company's existing stock repurchase authorization. This brings the total shares available for repurchase by the company under the existing authorization to approximately 17.8 million shares, or approximately 20 percent of the common outstanding shares at September 30, 2013.
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