Crocs Q1 revenues increased 6.5 percent

Crocs revenues increased 6.5 percent to 279.1 million dollars. On a constant currency basis, revenue increased 9.2 percent compared to the first quarter of 2015. Net income attributable to common stockholders on a GAAP basis was 6.4 million dollars or 0.07 dollar per diluted share.

“We are pleased with our start to the new year. First quarter revenue increased 6.5 percent driven by the positive response to our spring/summer 2016 line and operational improvements. While operational supply chain improvements resulted in some favourable timing of wholesale shipments in the quarter compared to our initial expectations, the strong growth in our e-commerce business and positive retail comps in all regions demonstrates the meaningful progress we have made in repositioning the Crocs brand and business over the past 21 months,” said Gregg Ribatt, Chief Executive Officer of Crocs.

Cuts net loss in Q1, expects revenue growth ahead

In the first quarter of 2016, the company reported GAAP net income attributable to common stockholders of 6.4 million dollars or 0.07 dollar per share, compared with a net loss attributable to common stockholders of 6 million dollars or 0.08 dollar per share in the same quarter of the prior year.

The company expects second quarter 2016 revenue in the 340 dollars to 350 million dollars range compared to 345.7 million dollars in the second quarter of last year. Additionally, revenue growth is anticipated to be in the mid-single digits, on a constant currency basis, in the first half of the year compared to the first half of 2015.

Picture:crocs.com