Crocs' annual revenue increases 12 percent
Last Updated: 16:17 February 21, 2013
Niwot-based Crocs (Nasdaq: CROX) also posted revenue of $224.9 million for the most recent quarter ended Dec. 31, up from $203.71 million for the same quarter in 2011. The company posted gross profit of $106.4 million for the most recent quarter ended Dec. 31, up from $99.8 million for the same quarter in 2011.
The company is known for its colorful plastic shoes. It has plans to launch new spring/summer shoe lines in the next few weeks, including Huarache styles, molded boat shoes and women's wedges, John McCarvel, president and chief executive officer at Crocs, said in a press statement accompanying the earnings report.
"We believe our focus on bringing innovative, colorful, comfortable and fun products to the marketplace allows us to grow our business thoughtfully and provide long-term value to our stockholders," McCarvel said in the press statement.
Crocs expects revenue of $305 million to $310 million in the first quarter of 2013, or from 32 to 34 cents per share, according to the press statement. Crocs' stock was trading up 4 cents at noon, Thursday, Feb. 21, at $14.65 per share.
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