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Crocs Inc reports strong financials
20 Feb '08
3 min read
To meet the higher than anticipated orders over the holiday period we delivered a meaningful amount of Mammoths by air-freight, which impacted our gross margin. However, we were still able to grow diluted earnings per share by 73% in the fourth quarter. As we approach the spring and summer selling seasons, our bookings are strong compared to December 31, 2006, our inventories are on plan and we believe we are well positioned to achieve our short and long-term growth objectives.”
Revenues for the year ended December 31, 2007 increased 138.9% to $847.4 million compared to $354.7 million for the year ended December 31, 2006. For the year ended December 31, 2007, domestic sales rose approximately 82% to $440 million from $242 million and international sales increased 264% to $408 million from $112 million a year ago.
Net income for the year ended December 31, 2007 increased 161.2% to $168.2 million, or $2.00 per diluted share, compared to $64.4 million, or $0.81 per diluted share for the year ended December 31, 2006.
Net income per diluted share amounts for 2007 and 2006 are adjusted to reflect the two-for-one stock split that took effect in June 2007. Gross profit for 2007 was $497.6 million, or 58.7% of revenues, compared to $200.6 million, or 56.5% of revenues for 2006. Selling, general and administrative expenses for the year ended December 31, 2007 were $259.9 million, or 30.7% of revenues, compared to $105.2 million, or 29.7% of revenues in the year ended December 31, 2006.
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Revenues for the year ended December 31, 2007 increased 138.9% to $847.4 million compared to $354.7 million for the year ended December 31, 2006. For the year ended December 31, 2007, domestic sales rose approximately 82% to $440 million from $242 million and international sales increased 264% to $408 million from $112 million a year ago.
Net income for the year ended December 31, 2007 increased 161.2% to $168.2 million, or $2.00 per diluted share, compared to $64.4 million, or $0.81 per diluted share for the year ended December 31, 2006.
Net income per diluted share amounts for 2007 and 2006 are adjusted to reflect the two-for-one stock split that took effect in June 2007. Gross profit for 2007 was $497.6 million, or 58.7% of revenues, compared to $200.6 million, or 56.5% of revenues for 2006. Selling, general and administrative expenses for the year ended December 31, 2007 were $259.9 million, or 30.7% of revenues, compared to $105.2 million, or 29.7% of revenues in the year ended December 31, 2006.
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Crocs Inc
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