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Crocs Q2 Results Top Consensus

Crocs Inc. (CROX) reported second-quarter net income of $56.6 million or $0.83 per share compared to $39.2 million or $0.55 per share last year.

Non-GAAP net income was $68.8 million or $1.01 per share versus $42.6 million or $0.59 per share reported a year ago.

Revenues for the quarter declined to $331.5 million from $358.9 million in the prior year period.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.14 per share and revenue of $249.63 million. Analysts' estimates typically exclude special items.

Andrew Rees, President and Chief Executive Officer, said, "Amidst unprecedented market conditions globally, we delivered exceptional performance in our Americas and e-commerce businesses and increased profit despite a very challenging environment."

Looking ahead, the company expects revenue for the remainder of 2020 to be about flat compared to the back-half of 2019.

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