GO
Loading...

Enter multiple symbols separated by commas

Crocs Trounces Quarterly Earnings Estimates, Lifts 2007 Guidance

Crocs, which makes trendy, colorful plastic shoes, said Thursday second-quarter net income more than tripled, beating analyst expectations, helped by results in the U.S. and Europe.

Quarterly net income rose to $48.5 million, or 58 cents a share, from $15.7 million, or 19 cents a share during the same period last year. Sales more than doubled to $224.3 million, from $85.6 million a year ago.

Results are adjusted for a 2-for-1 stock split effected in June.

Analysts polled by Thomson Financial expected earnings of 44 cents a share on revenue of $192.7 million.

The company said demand footwear and accessories did well in the U.S. and Canada and that distribution increased in Europe.

The company raised its yearly outlook due to higher-than-expected orders and now expects EPS in a range of $1.89 and $1.93 a share, on revenue in a range of $810 million and $820 million.

Before a 2-for-1 stock split in June, the company previously forecast earnings of $2.90 to $2.95 per share on sales of $670 million to $680 million.

Analysts polled by Thomson Financial currently forecast earnings of $1.56 a share on revenue of $712.2 million.

For the third quarter, Crocs expects earnings between 58 and 62 cents a share on revenue of $240 million and $250 million, which also beats analysts' expectations for earnings of 43 cents a share on sales of $196 million.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • Jac Jagaciak

    One of Victoria's Secret's newest "angels," Monika "Jac" Jagaciak, talks about what it's like to be a lingerie model and her craziest shoot.

  • Jessica Alba

    The actress' company got burned after consumers came out in droves, saying the company's sunscreen doesn't provide much sun protection at all.

  • Joe Biden and Hillary Clinton.

    Clinton's allies do not hide their annoyance at the implication by Biden's advisers that she is vulnerable. The NYT reports.

U.S. Video

  • Bullish case for the market

    Discussing the impact of oil price on the stock market, with Brian Belski, BMO Capital Markets. He forecasts the S&P 500 at 2,250 by year-end.

  • A win for renewable energy?

    Is now the time to jump in clean energy stocks as President Obama unveils America's clean power plan? Michael Morosi, Avondale Partners senior research analyst, discusses the impact on the solar industry.

  • President Obama's clean energy plan

    President Obama wants to stop carbon pollution in America. CNBC's John Harwood outlines the clean energy plan.