Crocs Inc. said it expects second quarter sales to range between $218 million and $233 million and earnings per share in the range of 3 cents to 7 cents. These estimates compare to previous guidance of revenues ranging from $247 million and $258 million and EPS between 42 cents and 47 cents. CROX shares fell nearly 46% for the week to close at $4.95 on Friday.
For fiscal 2008, Crocs expects revenues to fall “modestly” on break-even net income results after pre-tax charges of approximately $20 million, or 16 cents per diluted share to close its Canadian manufacturing operations. The quarter included a pre-tax charge associated with that closing equaling about $1.4 million, or 1 cent a share.
President and CEO Ron Snyder said the Asia business was up roughly 65% and Europe up approximately 13% for the period.
For Q3, CROX expects revenues to be in the range of $195 million to $205 million and diluted earnings per share of a penny to 5 cents.
