Key Developments For Crocs, Inc.
Crocs, Inc. (CROX.O) (Nasdaq)
Crocs, Inc. Issues Q4 2009 Outlook In Line With Analysts' Estimates
Crocs, Inc. announced that for the fourth quarter of 2009, it expects to generate between $110 and $115 million in revenue with a loss per diluted share between ($0.20) and ($0.15). According to Reuters Estimates, analysts on an average are expecting the Company to report loss per share of ($0.16) on revenue of $114 million for the same period.
Crocs, Inc. Secures New Asset Backed Credit Facility
Crocs, Inc. announced that it has entered into a new asset backed revolving credit facility with PNC on September 25, 2009. The agreement provides for up to $30 million in revolving loans which may be used for working capital needs and other items, as stipulated in the agreement. Certain of the Company's subsidiaries were co-borrowers under the agreement. Borrowings under the asset-based revolving credit facility bear interest at variable rates of interest, as outlined in the agreement, and are secured by all of the assets of the Company.
Crocs, Inc. Debuts New Back To School Styles Perfect For Schoolyard And Classroom
Crocs, Inc. announced the availability of four new fun Crocs shoes for kids just in time for the back to school shopping season. Kids everywhere will feel confident walking into their new classrooms with a new pair of stylish and colorful kicks from Crocs.
Crocs, Inc. Issues Q3 2009 Outlook Above Analysts' Estimates
Crocs, Inc. announced that for the third quarter of 2009, it expects to generate between $150 and $160 million in revenue with a diluted loss per share between $0.14 and $0.06. This guidance excludes the effect of one-time and non-recurring charges. According to Reuters Estimates, analysts on an average were expecting the Company to report loss per share of $0.20 on revenue of $141 million for the same period.
Crocs, Inc. Files To Sell $75 Million In Mixed Securities-DJ
Dow Jones reported that Crocs, Inc. filed with the U.S. Securities and Exchange Commission to sell up to $75 million in mixed securities from time to time. The Company said the mixed securities include common and preferred stock, debt securities, stock purchase contracts and warrants. The Company said it intends to use the net proceeds from the sale of the securities for general corporate purposes, which may include the repayment of debt, acquisitions, investments, additions to working capital and capital expenditures.
