Crocs Soars on Q2 Results
Crocs (NASDAQ: CROX) released its fiscal second-quarter earnings results after the closing bell on Wednesday. The Niwot, Colorado-based company reported net income of $61.5 million or $0.68 per share, compared to $55.5 million or $0.61 per share, in the year ago period. This came in well-ahead of analysts' consensus EPS estimates of $0.63.
Total revenues in the quarter were up 12 percent to $330.94 million from $295.59 million last year. This missed Wall Street consensus estimates of $339.87 million.
Looking ahead to the third-quarter, Crocs said that it expects EPS in a range between $0.42-0.44 on revenue of $300 million. This compares to analysts' consensus EPS expectations of $0.42 on revenues of $319.43 million.
During Thursday's trading session, CROX shares have soared more than 18 percent and were last trading at $16.50. Year-to-date, the stock is now up almost 12 percent after Thursday's jump, but shares remain well off their best levels of 2012.
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