Late on Wednesday, Crocs Inc. (NASDAQ: CROX) announced a third-quarter net loss of $148 million, or $1.79 a share compared with a profit of $57 million, or 66 cents a share in the corresponding quarter in 2007. Earnings for the third quarter include a $70 million charge related to inventory write-downs, impairment charge of $36.1 million and a $2.5 million restructuring charge from the closure of Canadian manufacturing and distribution unit. Revenue declined 32% to $174 million. Analysts on an average expected revenue of $201.7 million. Ron Snyder, president and chief executive said in a statement "our performance was below expectations and continued to be impacted by the extremely challenging retail environments in the U.S. and Europe during the third quarter." The company also issued a gloomy guidance for fourth quarter. The shoe manufacturer expects to lose between 50 cents and 65 cents in the fourth quarter on revenue of up to $120 million. Analysts on an average were looking for a fourth-quarter revenue of $185.7 million. "Based on current trends we have lowered our projected sales volumes and made the strategic decision to further right-size our operations to better align with our lower volumes and revenues," Snyder said. Shares of the company plunged over 34% in extended trading on Wednesday.

Sunnyvale, California based NetApp Inc. (NASDAQ: NTAP) reported that its second quarter net income dropped to $49.2 million, or 15 cents a share, from $83.8 million, or 23 cents a share in the same quarter last year. Revenue increased 15% to $911.6 million in the period, more than the analyst estimates of $904.2 million. Excluding one time items, earnings for the quarter were 28 cents a share, matching the Wall Street estimates of 28 cents a share. Chairman and CEO Dan Warmenhoven said "NetApp produced solid revenue and earnings results despite a challenging economic environment." He added “more and more customers are turning to NetApp to drive down their storage costs by increasing their storage utilization. We expect NetApp's unique storage efficiency offerings to resonate well with customers, particularly during periods of constrained IT spending." Shares of NetApp rose 2.12% in after hours trade.

Applied Materials Inc. (NASDAQ: AMAT) said that its profit fell 45% to $231 million, or 17 cents from $422 million, or 30 cents a share in the same quarter in 2007. Revenue dropped to $2.04 billion $2.37 billion in the same period. Excluding one-time items, the company earned $264 million, or 20 cents a share. Consensus expectations were for net earnings of 17 cents a share on $1.97 billion in revenue. Commenting on the results, chief Executive Mike Splinter said "the last six weeks of turmoil in the financial markets is unprecedented. The weakening global economy will have significant impact on all of Applied's businesses."The company also said that it expects to save $400 million by cutting down 1,800 jobs, or 12% of its workforce.