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Crocs recording huge sales
Crocs (CROX) had a huge 2Q with revenues increased 231.8% to $85.6 million.
1H revenue increased 255.6% to $130.5 million. 2Q net income was $15.7 million, or 39˘ per diluted share, compared to net income of $3.3 million, or 10˘. 2Q net income attributable to common stockholders includes non-cash share-based compensation expense, net of tax effect, of $1.5 million compared to $685,000 for the comparable period of 2005.
Net income attributable to common stockholders for the YTD was $22.1 million, or 56˘ per diluted share, compared to $5.3 million, or 16˘.
Ron Snyder, CEO, said, "Our second quarter results were much stronger than we anticipated due to increased demand for our footwear both domestically and overseas. Importantly, sales were driven by robust demand for our core product, as well as positive consumer reaction to our new styles, such as Athens, Off-Road and Scutes. At the same time, we drove improvements in operating leverage, which allowed us to generate a significant improvement in our bottom line."
