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Crocs Q2 revenues witness marginal decline

By Prachi Singh

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Revenue for the second quarter at Crocs was 345.7 million dollars. On a constant currency basis, revenue decreased 1.1 percent as compared to the prior year. Net income attributable to common stockholders on a GAAP basis was 9.7 million dollars per diluted share and earnings per share were 11 cents per diluted share. Excluding certain non-recurring and special charges, the company reported non-GAAP adjusted net income attributable to common shareholders of 27.3 million dollars.

Elaborating on the results, Gregg Ribatt, Chief Executive Officer, said, “Our business continues to stabilize around the globe and we believe the strategy the company outlined last July is positioning Crocs for sustained success in the future. We were particularly pleased to see global e-commerce revenue increase nearly 30 percent on a constant currency basis."

In the second quarter of 2015, the company reported GAAP net income attributable to common stockholders of 9.7 million dollars or 0.11 dollars per share, compared with net income of 19.5 million dollars or 0.19 dollars per diluted share in the same quarter of the prior year.

Ribatt added saying, “We are confident that the strategic shift to focus the organization on a narrower range of businesses, fewer retail stores and reduced geographic footprint will lead to improved results in the future. As our business continues to stabilize, we expect Q3 revenue in the 280 dollars to 290 million dollars range compared to 302 million dollars last year, showing growth on a constant currency basis at today's rates and excluding the impacts of store closings and discontinued product lines.”

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