Shoe company Crocs Q4 revenue improves drastically to $33.6 mn
03 Mar '06
3 min read
They also made important progress expanding their geographic reach and diversifying the breadth and depth of their product offering.
In 2006 they will continue to focus on executing their strategic plan and building on the positive momentum behind their brand."
Gross profit for the three months ended December 31, 2005 was $17.8 million, compared to gross profit of $2.4 million for the three months ended December 31, 2004, and selling, general and administrative expense was $10.9 million for the three months ended December 31, 2005, compared to $3.5 million for the three months ended December 31, 2004.
For the fiscal year ended December 31, 2005, gross profit was $60.8 million, compared to gross profit of $6.4 million for 2004, and selling, general and administrative expense was $33.9 million for 2005, compared to $7.9 million for 2004.
On February 13, 2006, the company completed an initial public offering of 11,385,000 shares of common stock at a price to the public of $21.00 per share, of which 4,950,000 shares were sold by the company and 6,435,000 were sold by certain selling shareholders, including 1,485,000 shares that were sold by the selling shareholders pursuant to the underwriters' over-allotment option.
Upon completing the offering, the company and the selling shareholders received net proceeds of approximately $96.9 million and $126.0 million, respectively.
The company intends to use the proceeds to repay amounts outstanding under its US credit facility and Canadian credit facility and bank loans and for working capital and general corporate purposes.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
