www.bcbr.com/article.asp?id=99433 -
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Published on: 4/3/2009
Last Visited: 4/6/2009
Reed Anderson, an industry analyst with D.A. Davidson & Co., is maintaining a "neutral" outlook on the company, meaning he anticipates a 0 percent to 15 percent return potential on a risk-adjusted basis.
According to his institutional equity research report on the company, he believes the company's cost reductions are helping to mitigate losses, but they "continue to be outpaced by the rate of revenue declines."
Anderson refused to comment on the company beyond his report.
He noted that Crocs' European revenues saw the biggest decline in fourth quarter 2008, dropping 72 percent relative to 2007.
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D.A. Davidson & Co.'s Anderson estimated that sales for Crocs will be low during all four quarters of 2009, with $95.5 million in the fourth quarter being the lowest.