Crocs Backs 2017 Outlook

(RTTNews) - Crocs Inc. (CROX) continues to expect 2017 revenues to be down low single digits compared to 2016. The Company continues to expect gross margin for 2017 to be approximately 50%. The Company continues to expect SG&A for 2017 to be between $490 and $495 million. Included in the range is approximately $10 million of charges associated with SG&A reduction plan.

The Company expects fourth quarter 2017 revenues to be between $180 and $190 million.

The Company expects the gross margin for the fourth quarter to be approximately 43%, or 100 basis points above last year's 42% gross margin.

The Company expects SG&A of approximately $115 million, including approximately $2 million of charges associated with our SG&A reduction plan. This represents a $3 million reduction to last year's $118.5 million of SG&A in the fourth quarter.

Net loss attributable to common stockholders for the third-quarter was $2.3 million, or $0.03 per share, compared to a loss of $5.4 million or $0.07 per share in the prior year. The latest-quarter result included $3.6 million related to our SG&A reduction plan.

Revenues were $243.3 million, decreased 1.1% compared to the third quarter of 2016. On a constant currency basis, revenues decreased 1.6% compared to the third quarter of 2016.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.05 per share and revenues of $237.51 million for the third-quarter. Analysts' estimates typically exclude special items.