Crocs posts Q1 profit
Crocs (Nasdaq: CROX) said it swung to a first-quarter profit, helped by double-digit revenue gains and better margins.
Net income was $5.7 million, or $0.07 per share, in the first quarter ended March 31, versus a loss of $22.4 million, or $0.27 per share, a year earlier.
Revenue rose 24 percent to $166.9 million, from $134.9 million a year earlier, helped by double-digit sales growth in both wholesale and retail channels.
Gross profit margins rose to 5.2 percent of sales from 3.7 percent in the year-ago period, helped by cost-cutting initiatives.
The company forecast second-quarter earnings of $0.18 to $0.22 per share on revenue of $210 million to $220 million.
Backcountry.com parent swings to Q1 profit
Liberty Media Corp, whose brands include Backcountry.com, reported profit for the first quarter, partly on a strong performance at its QVC television retailer.
Net income was $389 million, or $1.83 a share, compared with a loss of $136 million, or $1.41 a share a year earlier, according to a regulatory filing.
Revenue rose 11 percent to $2.5 billion.
Liberty Interactive, which owns the QVC TV retail business and Backcountry.com, reported a net profit of $310 million, or $0.51 cents a share, on a revenue increase of 11 percent to $2 billion.
Liberty Capital, the investment arm of Liberty Media, reported profits of $22 million, or $0.22 a share, while revenue increased 33 percent to $166 million.
Big 5 profit up 82 percent in Q1
Big 5 Sporting Goods (Nasdaq: BGFV) said its first-quarter profit jumped 82 percent, driven by growth in the number of customers shopping in the chain's stores and higher average sales, especially of winter gear.
It posted net income for the three months ended April 1 of $5 million, or $0.23 per share, compared with $2.8 million, or $0.13 per share, in the year-ago quarter.
Revenue rose 4 percent to $218.5 million, from $210.3 million last year.
Same-store sales rose 2.4 percent for the period.
Big 5 also forecast earnings for the second quarter in a range of $0.24 to $0.30 per share. It expects comparable sales to rise again in the current quarter.
Also, the company's board of directors declared a quarterly cash dividend of $0.05 per share, which will be paid on June 15 to stockholders of record as of June 1.
Rocky plans public offering
Rocky Brands (Nasdaq: RCKY) said it intends to offer $15 million of its common stock in a public offering and use the proceeds to repay long-term debt.
Robert W. Baird & Co. will act as the sole book-running manager for the offering. D.A. Davidson & Co. will act as co-manager for the offering.
--Compiled by Wendy Geister
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