Crocs Q2 Profit Rises, Revenues Down, Miss Estimates; Sees Lower Revenues In Q3

(RTTNews) - Casual footwear maker Crocs Inc. (CROX) reported Wednesday that its second-quarter net income attributable to common stockholders climbed 21.1 percent to $11.74 million or $0.13 per share, compared to $9.69 million or $0.11 per share in the prior year.

Adjusted net income attributable to common shareholders was $12.0 million, compared to $27.3 million last year.

Revenue decreased 6.3% to $323.84 million from $345.67 million last year. On a constant currency basis, revenue decreased 6.2%.

On average, 6 analysts polled by Thomson Reuters expected revenues of $347.75 million. Analysts' estimates typically exclude special items.

Looking ahead, the company expects third quarter 2016 revenue in the $245.0 to $255.0 million range compared to $274.1 million in the third quarter 2015. Analysts expect revenues of $289.52 million.

For the full year, the company expects revenue to be down low single digits compared to 2015. This guidance reflects the more cautious retail environment and the slower turnaround in China.

In pre-market activity, shares were trading at $9.90, down 10%.