Shoemaker Crocs ( CROX) widened its loss in the first quarter, sending shares plunging more than 20% in after-market trading.

During the quarter, the company recorded a loss of $22.4 million, or 27 cents a share, compared with a loss of $4.5 million, or 5 cents, a year earlier.

Excluding a foreign currency exchange loss, the loss was 23 cents per share.

Revenue fell 32% to $134.9 million from $198.5 million last year.

Going forward, Crocs expects a second-quarter loss in the range of 15 cents to 31 cents a share, but would not provide full-year outlook.

Shares were in the red after the market close, plunging 21% to $2.65, giving up some of Monday's gains.

Crocs normally trades 1,467 options a day, but Monday saw some 41,000 contracts change hands, according to OptionMonster's tracking systems.
Copyright 2009 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

If you liked this article you might like

How My Outperforming Value Portfolio Is Bucking the Trend

Crocs Could Be on the Brink of Extinction

Crocs Upgraded to 'Hold' from 'Sell' by Our Quant Ratings Team

Crocs Stock Soars on Earnings Beat

After Jobs Report, Financials Could Lead Markets Higher