WASHINGTON (dpa-AFX) - (Adds Outlook)
Crocs Inc. (CROX) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $72.76 million, or $1.19 per share. This compares with $98.40 million, or $1.47 per share, in last year's first quarter.
Excluding items, Crocs Inc. reported adjusted earnings of $125.03 million or $2.05 per share for the period.
Analysts on average had expected the company to earn $1.55 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 43.5% to $660.15 million from $460.10 million last year.
Outlook:
Looking forward, for the second quarter, Crocs expects second quarter revenue to grow 43%-49% to $918 million-$957 million from last year.
10 analysts on average polled by Thomson-Reuters expect the company to report $960.47 million of revenue for the quarter.
For the full year, the company expects adjusted earnings per share of $10.05 to $10.65 on revenues of $3.5 billion, a growth of 52%-55% from a year ago.
The Street expects earnings of $9.98 a share on revenues of $3.42 billion for the full year.
Crocs Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $72.76 Mln. vs. $98.40 Mln. last year. -EPS (Q1): $1.19 vs. $1.47 last year. -Analyst Estimates: $1.55 -Revenue (Q1): $660.15 Mln vs. $460.10 Mln last year.
-Guidance: Next quarter revenue guidance: $918 - $957 Mln Full year EPS guidance: $10.05 - $10.65 Full year revenue guidance: $3.5 Bln
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