Q4 Loss for Crocs

Crocs Inc. swung to the red in the fourth quarter ended Dec. 31, 2012, due to large increases in the cost of goods, and selling and general expenses.

The company registered a net loss of $3.6 million, or 4 cents a share, compared with net income of $5.6 million, or 6 cents, in the year-ago period.

But revenue increased 10.4 percent to $225 million.

“We are pleased with our revenue growth, which was ahead of our prior guidance,” John McCarvel, president and CEO of Crocs, said in a statement. “We saw good reception of our fall holiday products during the season, and we continued to position the brand for greater success in the back half of the year.”

For the full year ended Dec. 31, net income rose 17 percent to $131.3 million, while revenue increased 12 percent to $1.12 billion.

“Our strong performance in 2012 reflects our ongoing investment in our multichannel strategy,” said McCarvel.

Crocs’ cash balance also rose to $294.3 million at year’s end, up from $257.6 million a year ago.

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