Crocs posts strong earnings report

NIWOT – Crocs Inc.’s fourth-quarter revenue increased 32 percent during its fourth quarter ending Dec. 31, the company said, tipping the company into the black and topping Wall Street estimates.

The Niwot-based shoemaker’s fourth-quarter revenue was $179.2 million compared with $136 million in fourth-quarter 2009.

New styles and products drove revenue for the Niwot-based shoemaker (Nasdaq: CROX), which is best known for its iconic plastic clogs. The company had fourth-quarter net income of $4.7 million, or 5 cents per share, compared with a loss of $11.4 million, or 13 cents per share, in the same period a year earlier.

SPONSORED CONTENT

How dispatchable resources enable the clean energy transition

Platte River must prepare for the retirement of 431 megawatts (MW) of dispatchable, coal-fired generation by the end of the decade and address more frequent extreme weather events that can bring dark calms (periods when there is no sun or wind).

Crocs is seeing success in evolving Crocs shoe styles into an “off-season brand,´ said John McCarvel, chief executive, in a call with analysts. For 2010, Crocs posted income of $67.7 million on revenue of $789.7 million, compared with 2009’s loss of $42.1 million on revenue of $645.8 million.

“Our topline performance was once again driven primarily by global demand for our new products, with several recent style introductions outperforming expectations,” McCarvel said.

Consumers also are interested in Crocs’ fall and holiday shoe styles, McCarvel said. Crocs has 378 company-owned retail stores around the globe. It has plans to add as many as 40 new stores in Europe and Asia in 2011; 25 to 35 new stores in the Americas.

Building on its earnings momentum, the shoemaker said Friday that it hired Andrew Davison as chief marketing officer. The former senior director of digital innovation at Crispin Porter & Bogusky led a team that developed the recent EpicMix marketing campaign for skiers at Vail Resorts Inc.

The shoemaker has about 3,700 employees worldwide.