Footwear and apparel maker Crocs, Inc. (CROX) Wednesday reported fourth-quarter net loss of $3.6 million or $0.04 per share, compared with net income of $5.6 million or $0.06 per share in the prior year.
Results for the reporting quarter included non-cash expenses of $5.9 million for contingency accruals.
Excluding items, adjusted earnings for the quarter were $3.8 million or $0.04 per share.
Revenue for the quarter increased 10.4% to $225 million from $203.7 million last year.
Analysts polled by Thomson Reuters estimated breakeven earnings per share on revenues of $219.92 million for the quarter. Analysts' estimates typically exclude special items.
Gross margin for the quarter was 47.3%, compared with 49.0% last year.
Looking ahead to the first quarter, the company expects revenue of $305 million to $310 million and earnings of $0.32 to $0.34 per share, which includes $0.02 per share of ERP implementation expense.
Analysts currently expect revenues of $308.97 million and earnings of $0.38 per share for the first quarter.
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