Crocs, Inc. Reports 2010 Third Quarter EPS of $.28

Crocs, Inc.

today reported financial results for the third quarter ended September 30, 2010. Revenue for the third quarter of 2010 increased 30% to $215.6 million, over recurring revenue of $165.7 million reported in the third quarter of 2009. Recurring revenue is a non-GAAP measure that excludes impaired product sales of $11.5 million in the third quarter of 2009. On a GAAP basis, third quarter revenue increased 22% year-over-year. Net income for the third quarter 2010 improved to $25.0 million, or $0.28 per diluted share compared to net income of $22.1 million, or $0.25 per diluted share in the third quarter 2009. Excluding a one-time tax benefit of $3.0 million, or $0.03 per diluted share, and other non-recurring charges, non-GAAP net income was $22.1 million or $0.25 per diluted share in the third quarter 2010. This compares to third quarter 2009 equivalent non-GAAP net income of $1.8 million, or $0.02 per diluted share.