Stock Market Watch

Crocs Up after Upbeat Forecast

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Shares of Crocs, Inc. (NASDAQ:  CROX) are up over 10% in morning trade after the company said its fourth quarter revenue will exceed prior estimates. The Company now says that Q4 revenue will be at the high end of the prior guidance of $200 to $205 million. Analysts were expecting Crocs to report $204.4 million in revenue in the fourth quarter. The company generated $179 million in the fourth quarter of 2010.

This compares favorably with the Company’s reported revenue of $790 million for the year ended December 31, 2010. The company also said that it expects annual revenue to surpass $1 billion for the first time when it reports results for the year ended December 31, 2011.

“Exceeding $1 billion in revenue in less than 10 years is a testament to the power of our global brand and the potential of our Company,” said John McCarvel, Crocs President and Chief Executive Officer. “Few companies in our industry have reached this milestone so quickly. As we begin our 10th anniversary year in 2012, everyone at Crocs can be proud of what we’ve achieved together, and we’re looking forward to the next 10 years.”


After reaching as high as $27 in October 2011, shares came under pressure after the company had lowered its third quarter outlook. Crocs traded as low as $15 a share. Todays over 10% rally in the stock comes on top of a 4% rally in the shares yesterday. The company’s fortunes have rebounded since the recession of 2008, after it decided to expand its product line to include sneakers, casual shoes and boots in 2011.

The Company is schedule to present at the 14th Annual ICR XChange Conference in Miami Beach, Florida on January 11, 2012 at 11:05 am Eastern Time and is likely to be the subject of analyst upgrades following the positive surprise.

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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