Crocs, Inc. Expects to Surpass $1 Billion in Revenue in 2011
January 10 2012 - 4:01PM
Business Wire
Crocs, Inc. (NASDAQ: CROX) today announced that it expects
annual revenue to surpass $1 billion for the first time when the
Company reports results for the year ended December 31, 2011.
The Company now estimates that Q4 revenue will be at the high
end of the prior guidance of $200 to $205 million. This compares
with the Company’s reported revenue of $790 million for the year
ended December 31, 2010.
“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,” said John McCarvel, Crocs President and Chief Executive
Officer. “Few companies in our industry have reached this milestone
so quickly. As we begin our 10th anniversary year in 2012, everyone
at Crocs can be proud of what we’ve achieved together, and we’re
looking forward to the next 10 years.”
Crocs is scheduled to present at the 14th Annual ICR XChange
Conference in Miami Beach, Florida on January 11, 2012 at 11:05 am
Eastern Time. This press release does not update or reaffirm our
previously issued Q4 2011 earnings guidance. Full Q4 2011 financial
results will be disclosed in late February.
About Crocs, Inc.
A world leader in innovative casual footwear for men, women and
children, Crocs, Inc. (NASDAQ: CROX), offers several distinct shoe
collections with more than 250 styles to suit every lifestyle. As
lighthearted as they are lightweight, Crocs(TM) footwear provides
profound comfort and support for any occasion and every season. All
Crocs(TM) branded shoes feature Croslite(TM) material, a
proprietary, revolutionary technology that produces soft,
non-marking, and odor-resistant shoes that conform to your
feet.
Crocs(TM) products are sold in 90 countries. Every day, millions
of Crocs(TM) shoe lovers around the world enjoy the exceptional
form, function, versatility and feel-good qualities of these shoes
while at work, school and play.
Visit www.crocs.com for additional information.
Forward-looking statements
The matters regarding the future discussed in this news release
include “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
include, but are not limited to, statements regarding 2011 revenue.
These statements involve known and unknown risks, uncertainties and
other factors which may cause our actual results, performance or
achievements to be materially different from any future results,
performances, or achievements expressed or implied by the
forward-looking statements. These risks and uncertainties include,
but are not limited to, the following: macroeconomic issues,
including, but not limited to, the current global financial
conditions; the effect of competition in our industry; our ability
to effectively manage our future growth or declines in revenue;
changing fashion trends; our ability to maintain and expand
revenues and gross margin; our ability to accurately forecast
consumer demand for our products; our ability to develop and sell
new products; our ability to obtain and protect intellectual
property rights; the effect of potential adverse currency exchange
rate fluctuations and other international operating risks; our
ability to open and operate additional retail locations; and other
factors described in our most recent annual report on Form 10-K
under the heading “Risk Factors” and our subsequent filings with
the Securities and Exchange Commission. Readers are encouraged to
review that section and all other disclosures appearing in our
filings with the Securities and Exchange Commission. We do not
undertake any obligation to update publicly any forward-looking
statements, including, without limitation, any estimate regarding
revenues or earnings, whether as a result of the receipt of new
information, future events, or otherwise.
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