Getting your player ready...
NIWOT — Crocs Inc. said Wed nesday it swung to a third- quarter loss of nearly $148 million as sales of the company’s colorful plastic clogs plunged by nearly one-third amid a deteriorating U.S. economy.
The loss included one-time charges of $104 million, reflecting the declining value of the shoemaker’s business, and Crocs issued a fourth-quarter financial forecast far below Wall Street expectations.
Crocs reported a net loss of nearly $148 million, or $1.79 per share, for the three months ended Sept. 30, compared with net income of $56.5 million, or 66 cents per share, a year ago. Revenue dropped 32 percent to $174.2 million.
