crocs inc (C7N) Snapshot

Crocs, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company’s revenue was $311,656,000 against $271,798,000 a year ago. Income from operations was $37,650,000 against $39,796,000 a year ago. Income before income taxes was $35,175,000 against $36,071,000 a year ago. Net income was $28,961,000 or $0.33 per basic and diluted share against $28,346,000 or $0.31 per diluted share a year ago. Non-GAAP adjusted net income was $30,814,000 or $0.35 per diluted share against $28,346,000 or $0.31 per diluted share a year ago. Revenue growth was driven by increased volume as units increased 13% and increased average footwear selling prices by 4%. For the second quarter of 2013, the company expects revenue between $360 million and $370 million and diluted earnings per share between $0.60 and $0.63. Global currency changes will impact revenue by about 2% or $6 million and operating income $4 million from the U.S. dollar translation of the company’s global business in unfavorable purchasing power of local currencies. This outlook includes $0.02 per share of ERP implementation expense and reflects an impact of $0.04 for currency translation. For the quarter, the company expects to report tax rate as 21%. The company announced looking out into the remaining quarters of 2013, it expects to expand on the positive trends set in the first quarter of the year as the warm weather months approach. The company planned to open approximately 80 more retail stores across the globe by the end of the year for a total increase of 90 for the year. As well as open new wholesale doors in order to attract customers and retain loyal as to visual merchandising and product driven expansions.

Crocs, Inc., Q1 2013 Earnings Call, Apr 24, 2013

Crocs, Inc. announced that they will report Q1, 2013 results at 4:00 PM, US Eastern Standard Time on Apr 24, 2013