Crocs’ 2Q revenue down but beats projection

NIWOT – Crocs Inc. reported lower quarterly revenue and swung to a loss for the second quarter ending June 30.

The second-quarter revenue of $197.7 million for the Niwot-based shoemaker was down 11.2 percent from $222.7 million a year ago, but better than projected, helping send Crocs’ stock up 35 percent in early trading a day after the report.

The company reported a second-quarter net loss of $30.3 million, or a loss of 36 cents per share, down from a $2.1 million quarterly profit a year ago.  

In addition its quarterly earnings, Crocs announced it had completely repaid $17.3 million in borrowings…