May 8, 2018 / 11:20 AM / 5 months ago

BRIEF-Crocs Reports Q1 Earnings Per Share $0.15

May 8 (Reuters) - Crocs Inc:

* SEES Q2 2018 REVENUE $315 MILLION TO $325 MILLION

* Q1 REVENUE $283.1 MILLION VERSUS I/B/E/S VIEW $272.2 MILLION

* Q1 EARNINGS PER SHARE VIEW $0.13 — THOMSON REUTERS I/B/E/S

* INCREASED FULL-YEAR GUIDANCE

* FY REVENUE VIEW $1.02 BILLION — THOMSON REUTERS I/B/E/S

* SEES FY INCOME FROM OPERATIONS TO BE ABOUT $50 MILLION COMPARED TO $17.3 MILLION IN 2017

* QTRLY GROSS MARGIN WAS 49.4%, DECLINING 50 BASIS POINTS FROM LAST YEAR’S FIRST QUARTER

* INVENTORY DECLINED 17.0% TO $148.2 MILLION AS OF MARCH 31, 2018 COMPARED TO $178.5 MILLION AS OF MARCH 31, 2017

* FY EARNINGS PER SHARE VIEW $0.31 — THOMSON REUTERS I/B/E/S

* AT MARCH 31, 2018, $198.8 MILLION OF CO’S $500 MILLION SHARE REPURCHASE AUTHORIZATION REMAINED AVAILABLE FOR FUTURE SHARE REPURCHASES

* TO SIMPLIFY BUSINESS & IMPROVE PROFITABILITY, CO HAS DECIDED TO CLOSE ITS MANUFACTURING & DISTRIBUTION FACILITIES IN MEXICO

* MANUFACTURING IN MEXICO HAS CEASED, AND THE DISTRIBUTION CENTER WILL BE CLOSED BY END OF Q3

* SEES Q2 2018 GROSS MARGIN TO BE SLIGHTLY ABOVE LAST YEAR’S 54.2% RATE

* IN Q2, CO WILL INCUR ABOUT $5 MILLION OF NON-RECURRING CHARGES IN CONNECTION WITH CLOSURE OF MEXICO MANUFACTURING & DISTRIBUTION FACILITIES

* SEES FY 2018 GROSS MARGIN TO BE UP ABOUT 70 TO 100 BASIS POINTS OVER 2017 GROSS MARGIN OF 50.5%

* SEES FY 2018 INCOME FROM OPERATIONS TO BE ABOUT $50 MILLION COMPARED TO $17.3 MILLION IN 2017 Source text for Eikon: Further company coverage:

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