Crocs Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - 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.

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