EARNINGS
Crocs Inc.: The Niwot-based shoemaker on Thursday reported third-quarter net income of $21.5 million, 53 cents a share, up from $7.4 million, 22 cents a share, a year earlier. The company reported revenue of $111.3 million in the most recent quarter, compared with $38.3 million in the previous third quarter. Chief executive Ron Snyder attributed the earnings growth to strength within the company’s new product line and its expansion into new markets. Crocs’ new models accounted for 50 percent of the company’s sales. A year ago, 15 percent of the company’s sales came from models other than its well-known “Beach” and “Cayman” styles. Crocs currently sells 21 models and will release another nine as part of its spring line.
Six Flags Inc.: The second-largest U.S. theme-park operator said third-quarter profit fell 16 percent as inclement July weather caused a drop in attendance. Net income slumped to $164.7 million, $1.08 a share, from $195.7 million, $1.29 a share, a year earlier, New York-based Six Flags said in a statement. Sales fell 1 percent to $540.7 million from $546.1 million. Attendance declined 12 percent in the third quarter after Six Flags raised prices and rainy weekend weather at six East Coast parks and extreme heat in Los Angeles, Dallas and Oklahoma City kept some customers away. Chief financial officer Jeff Speed said plans to sell Denver’s Six Flags Elitch Gardens and five other parks will be announced by year-end.
Whole Foods Market Inc.: The largest U.S. natural-foods grocer said fourth-quarter profit quadrupled on demand for prepared foods. The company lowered its sales forecast, sending the shares down 15 percent. Net income rose to $39.8 million, 28 cents a share, missing analysts’ estimates. Profit was $9.06 million, 6 cents a share, a year earlier, Austin, Texas-based Whole Foods said Thursday in a statement. Sales at stores open at least a year rose 8.6 percent, less than analysts projected. The company said same-store sales may rise 6 percent to 8 percent in the next year, down from 11 percent last year. Sales increased 16 percent to $1.29 billion from $1.12 billion in the year-ago period.
Barrick Gold Corp.: The world’s biggest gold producer said profit more than tripled in the third quarter on higher prices and expanded mine output. Net income rose to $405 million, 46 cents a share, from $113 million, 21 cents a share, a year earlier, Barrick said Thursday in a statement. Sales more than doubled to $1.63 billion. Chief executive Gregory Wilkins boosted output by 43 percent and sold gold at prices 36 percent higher. The $10 billion purchase of Placer in March vaulted Barrick above Newmont Mining Corp. in output and gave it new mines in Nevada, Australia and Tanzania.
