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Crocs net loss widens in Q4 and FY15

By Prachi Singh

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Business |REPORT

In the fourth quarter of 2015, Crocs reported a GAAP net loss attributable to common stockholders of 73.9 million dollars or 1.01 dollars per share, compared with a net loss of 56.9 million dollars or 0.70 dollar per diluted share in the same quarter of the prior year. For the full year, GAAP net loss attributable to common stockholders was 98 million dollars or 1.30 dollars per diluted share, compared with 19 million dollars or 0.22 dollar per diluted share in 2014.

“We continue to make meaningful progress positioning our business for long-term sustainable success despite some near-term challenges. Revenue on a constant currency basis, excluding store closures and discontinued product lines, grew at 12.2 percent in the quarter compared with a year ago. While we still face foreign exchange headwinds from the stronger US dollar and macroeconomic challenges, we are making progress in our transformation efforts,” said Gregg Ribatt, Chief Executive Officer, Crocs.

Fourth quarter and fiscal 2015 highlights

Revenue was 208.7 million dollars for the fourth quarter, in-line with guidance. On a constant currency basis, revenue increased 7 percent compared to the prior year period.

Revenue for the full year was 1,090.6 million dollars. On a constant currency basis revenue was down 1.9 percent compared to the prior year.

The company expects first quarter 2016 revenue to be in the 260 dollars to 270 million dollars range compared to 262.2 million dollars last year.


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