Crocs, Inc.
(CROX) experienced a more than 3% decline in after-hours trading despite reporting fourth-quarter adjusted earnings and revenues that surpassed analyst expectations. The footwear and apparel maker posted an adjusted EPS of $0.04, beating the breakeven consensus, on revenues of $224.99 million, which also topped estimates.
However, the positive Q4 performance was overshadowed by a weaker-than-anticipated earnings guidance for the first quarter of 2013, projecting EPS between $0.32 and $0.34, significantly below the Street's $0.38 forecast. While Q1 revenue guidance was largely in line, the cautious earnings outlook for the upcoming quarter, coupled with a contraction in gross margin and a decrease in global same-store sales, fueled investor concern.
For the full fiscal year 2012, Crocs reported adjusted earnings of $1.40 per share on $1.12 billion in revenue, both meeting or slightly exceeding analyst projections.
Originally reported as: “On Holding Shares Sink as Weak Outlook Overshadows Higher Sales”
