Crocs Q3 revenues up 7.5 percent

Crocs reported that its third quarter revenues ended September 30, 2012 increased

7.5 percent to 295.6 million dollars compared with revenue of 274.9 million dollars in the third quarter of 2011. Net income for the third quarter of 2012 was 45.1 million dollars, or 0.49 dollars per diluted share, compared with net income of 30.2 million dollars, or 0.33 dollars per diluted share, in the third quarter of 2011.

The company ended the quarter with 499 retail store locations compared with 410 locations a year ago. Global same store sales for the third quarter of 2012 increased 1.0 percent on a currency neutral basis, as the Americas increased 5.5 percent, Europe 0.9 percent, while Asia declined 6.3percent.

“Our revenue growth during the third quarter reflects the benefit of balanced distribution channels globally. Our direct to consumer channel in the Americas increased 12 percent on year-over-year basis, highlighted by a mid-single digit same store sales gain, and our expanded presence in Asia resulted in a direct to consumer sales increase of 17 percent in that region,” said John McCarvel, President and Chief Executive Officer.

“For the spring summer 2013 season our wholesale pre-books have been strong. We are excited about the prospects for 2013 as enthusiasm for our products continues to grow and our opportunities globally expand,” McCarvel added.

Gross profit for the third quarter of 2012 increased 9.2 percent to 160.7 million dollars, or 54.4 percent as a percentage of sales, from 147.2 million dollars, or 53.5 percent as a percentage of sales in the same period last year. For the fourth quarter of 2012, the Company expects break-even diluted earnings per share on revenue of 220 million dollars.

Celebrating its 10th anniversary in 2012, Crocs is a world leader in innovative casual footwear for men, women and children. It offers several distinct shoe collections with more than 300 four-season footwear styles.