NIWOT, Colo., Feb. 26, 2015 (GLOBE NEWSWIRE) — Crocs Inc. (Nasdaq:CROX) today appear banking after-effects for the fourth division and abounding year concluded December 31, 2014.
Full Year and Fourth Division Banking Highlights:
Gregg Ribatt, Chief Executive Officer, said: “We delivered fourth division sales in band with expectations. Our business was about collapsed to aftermost year, on a connected bill base beyond all regions including the Americas, Europe, Japan and Asia with the barring of Latin America and China. We accept the action the aggregation categorical aftermost July will position Crocs for abiding success in the future. We are authoritative allusive advance on implementing the action including: deepening our brand; adorning our artefact belief while eliminating non-core categories; evolving our all-embracing business to focus on our six bulk markets while architecture best in chic partnerships in the blow of the world; deepening our relationships with key ample partners; convalescent our absolute to customer capabilities; simplifying our business model; and, architecture a best in chic team. Added specifically, in the added bisected of 2014 the aggregation alone non-core artefact categories, bankrupt added than 100 stores, bargain headcount, and simplified our all-embracing operations. We are assured these moves will accredit us to accumulate our business model, focus on our bigger and best allusive opportunities, and position the aggregation for advance in the future.”
Fourth division operating results
In the fourth division of 2014, the aggregation incurred a GAAP net accident attributable to accustomed stockholders of $56.9 actor or $0.70 per adulterated share, compared with a net accident of $66.9 actor or $0.76 per adulterated allotment in the aforementioned division of the above-mentioned year.
As categorical in detail in the non-GAAP reconciliations set alternating afterwards in this columnist release, the aggregation recorded $26.8 actor in non-recurring and appropriate accuse (of which $15.3 actor were non-cash charges) in the fourth division of 2014; compared with $49.2 actor in non-recurring and appropriate accuse (of which $46.5 actor were non-cash charges) in the fourth division of 2013.
Excluding these items, the aggregation appear a non-GAAP adapted net accident attributable to accustomed stockholders of $30.0 actor in the division or compared with a non-GAAP adapted net accident of $17.7 actor in the fourth division of 2013.
Full year 2014 operating results
The aggregation generated net accident attributable to accustomed stockholders of $19.0 actor or $0.22 per adulterated allotment for the abounding year concluded 2014, compared with net assets of $10.4 actor or $0.12 per adulterated allotment in 2013.
As categorical in detail in the non-GAAP reconciliations set alternating afterwards in this columnist release, the aggregation recorded $69 actor in non-recurring and appropriate accuse (of which $27.7 actor were non-cash charges) for the year concluded 2014; compared with $62.4 actor in non-recurring and appropriate accuse (of which $49.3 actor were non-cash charges) for the abounding year 2013.
Excluding these items, the aggregation generated non-GAAP adapted net assets attributable to accustomed stockholders of $50.0 actor for the year concluded 2014 compared with non-GAAP adapted net assets of $72.8 actor during 2013.
Cash and banknote equivalents at December 31, 2014, amounted to $267.5 million. Account was $171.0 actor at the end of 2014 compared with $162.3 actor on December 31, 2013.
Mr. Ribatt continued, “As we attending forward, 2015 will be a alteration aeon for the company. Our business continues to balance beyond all of our regions while we abode the continuing challenges of the stronger US dollar and our China business. We apprehend Q1 revenues to be bottomward on a connected bill base by 10% to 12%, to a ambit of $260 to $265 million, apprenticed primarily by declines in our China business. We apprehend the declines to abstinent essentially in Q2 and advance to acknowledgment in the added bisected of 2015 as abounding of the cardinal changes we implemented in backward 2014 absolutely appulse the business.”
The aggregation repurchased 10.6 actor shares of accustomed b in 2014 of which 4.5 actor shares were repurchased in the fourth division of 2014 at an boilerplate bulk of $12.38. The aggregation concluded the year at 78.5 actor accustomed shares outstanding and fourth division abounding boilerplate shares outstanding was 80.9 million.
Conference Alarm Information
A teleconference alarm to altercate fourth division and abounding year 2014 after-effects is appointed for today, Thursday, February 26, 2015, at 5:00 p.m. EST. The alarm accord cardinal is (888) 771-4371. A recording of the appointment alarm will be accessible two hours afterwards the achievement of the alarm at (888) 843-7419. All-embracing participants can punch (847) 585-4405 to booty allotment in the appointment alarm and can admission a epitomize of the alarm at (630) 652-3042. All of the aloft calls will crave the ascribe of the appointment identification cardinal 39040660. The alarm additionally will be streamed on the Crocs website, www.crocs.com. An audio recording of the appointment alarm will be accessible at www.crocs.com through March 28, 2015
About Crocs, Inc.
Crocs, Inc. (Nasdaq:CROX) is a apple baton in avant-garde accidental cossack for men, women and children. Crocs offers a ample portfolio of all-season products, while absolute accurate to its bulk molded cossack heritage. All Crocs™ shoes affection Croslite™ material, a proprietary, advocate technology that gives anniversary brace of shoes the soft, comfortable, lightweight, non-marking and odor-resistant qualities that Crocs admirers apperceive and love. Crocs celebrates the fun of actuality a little altered and encourages admirers to “Find Your Fun” in every bright brace of shoes. Since its birth in 2002, Crocs has awash added than 300 actor pairs of shoes in added than 90 countries about the world.
Visit www.crocs.com for added information.
The affairs apropos the approaching discussed in this account absolution accommodate “forward-looking statements” aural the acceptation of the Private Securities Litigation Reform Act of 1995. These statements include, but are not bound to, statements apropos prospects, investments in our business and outlook. These statements absorb accustomed and alien risks, expectations, uncertainties and added factors which may account our absolute results, achievement or achievements to be materially altered from any approaching results, performances, or achievements bidding or adumbrated by the advanced statements. These risks and uncertainties include, but are not bound to, the following: macroeconomic issues, including, but not bound to, the accustomed all-around banking conditions; the aftereffect of antagonism in our industry; our adeptness to finer administer our approaching advance or declines in revenue; alteration appearance trends; our adeptness to advance and aggrandize revenues and gross margin; our adeptness to accurately anticipation customer appeal for our products; our adeptness to advance and advertise new products; our adeptness to access and assure bookish acreage rights; the aftereffect of abeyant adverse bill barter bulk fluctuations and added all-embracing operating risks; our adeptness to accessible and accomplish added retail locations; and added factors declared in our best contempo anniversary address on Form 10-K beneath the branch “Risk Factors” and our consecutive filings with the Securities and Barter Commission. Readers are encouraged to ysis that area and all added disclosures actualization in our filings with the Securities and Barter Commission.
All advice in this certificate speaks as of February 26, 2015. We do not undertake any obligation to amend about any advanced statements, including, after limitation, any appraisal apropos revenues or earnings, whether as a aftereffect of the cancellation of new information, approaching events, or otherwise.
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