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Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Secret_Agent_Man who wrote (12254)	10/31/2007 5:25:00 PM
From: Smiling Bob	Respond to of 19256

Thanks Down 15 AH 57.20 A couple of weeks too late for me. Holding a small fraction of what I had, but still good to see -- Crocs 3Q Profit, Sales More Than Double Wednesday October 31, 5:02 pm ET Crocs 3rd-Quarter Profit and Revenue More Than Double, Helped by Strong Global Demand NIWOT, Colo. (AP) -- Footwear maker Crocs Inc. said Wednesday its third-quarter profit more than doubled, helped by strong global demand. The company reported income of $56.5 million, or 66 cents per share, compared with $21.5 million, or 27 cents per share, in the year-ago period. The earnings-per-share amounts have been adjusted to reflect the two-for-one stock split that took effect in June, the company said. ADVERTISEMENT Revenue more than doubled to $256.3 million from $111.3 million. Analysts polled by Thomson Financial, on average, estimated earnings of 63 cents per share on sales of $258.4 million. However, the company offered a revised 2007 earnings guidance range that was mostly below Wall Street estimates, and shares dived after hours. Crocs attributed its third-quarter earnings growth to exceptionally strong global demand throughout the summer. Subsequently, Crocs was able to expand its gross margins 240 basis points to 61 percent. The company said the opening of a new 320,000 square-foot distribution center in Europe will enable it to support future growth in that region. "Our year-to-date performance has been marked by significant gains in sales and earnings, robust international expansion, a number of high-profile licensing agreements and the continued build out of our global infrastructure," said Ron Snyder, president and chief executive, in a release. "Our brand continues to reach new levels of recognition and acceptance around the world." Crocs shares rose $2.66, or 3.7 percent, to end regular trading at $74.75. The stock hit an intraday high of $75.21, eclipsing a 52-week high of $73.75. But in aftermarket trading the shares dived $15.01, or 20 percent, to $58.74.