Crocs Trading Higher on Upbeat Guidance

Crocs

is trading higher on the session after the company announced yesterday that it expects 2011 revenue to surpass $1 billion for the first time. The analysts' estimate for the year is exactly $1 billion. Additionally, Crocs announced it sees Q4 revenues of $200 to $205 million versus the estimates of 204.45 million. CEO John McCarvel said “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.” Crocs is currently trading at $17.78, up $1.83 or 11.47%.