Crocs posts $30.3 million 2Q loss after charges

NIWOT, Colo. (AP) — Crocs Inc., the maker of the ubiquitous plastic sandals, on Thursday posted a fiscal second-quarter loss as charges and weak sales dampened results.

Shares of Crocs rose $1.44, or 34 percent, to $5.71 in aftermarket trading, as adjusted results and sales topped Wall Street expectations.

The company posted a loss of $30.3 million, or a loss of 36 cents per share, compared with net income of $2.1 million, or 3 cents a share, a year earlier.

Excluding $34.8 million in impairment and restructuring charges, $16.3 million in stock-based compensation and $3.1 million in charitable donations, the company posted a loss of $5 million, or 6 cents per share.

Sales declined 11 percent to $197.7 million from $222.8 million for the quarter ended June 30.

Analysts polled by Thomson Reuters, who usually exclude one-time items from their estimates, expected a 21-cent loss and revenue of $149.9 million.

"Our top-line results were better than expected driven by strong gains in our retail channel, as consumers responded positively to the broad product assortment now available at our company-operated locations," Chief Executive John Duerden said in a statement.

For the third quarter, the company expects to record a loss between 6 cents and 14 cents per share, excluding charges.

Sales will range between $150 million and $160 million, the company said.

Analysts predict a 20-cent loss and $140.9 million in revenue.