Crocs, Inc. (NASDAQ:CROX) was one that actually went unnoticed today because of the crummy market. We weren’t only surprised to see the stock gap up again by this much after hours, but we were even more surprised that the stock closed up 2.7% to $50.59 on a NEW 52-WEEK HIGH before the news was out. That is amazing if you consider today’s market and that so many of the 52-week lows today were apparel and footwear companies.
Crocs posted $0.58 EPS on revenues of $224.3 million, compared to estimates of $0.44 EPS and $193 million according to First Call. The company that makes really ugly but comfortable shoes also lifted guidance againce again. And not by just a bit. It put next quarter at $0.58 to $0.62 on revenues of $240 to $250 million, and analysts are only at $0.43 and $196 million. For the year it lifted targets to a new range of $1.89 to $1.93 EPS on revenues of $810 to $820 million. Its previous range, adjusted for a split, that had been offered was $1.45 to $1.475 EPS on revenues of $670 to $680 million.
The surprise isn’t so much that the shares are up or that they even guided higher. But if you look atthese numbers above and the after-hours move, it is pretty staggering. Shares are up 19% to just over $60.00 in after-hours. The short interest was somewhat flat at 20.7 million shares in July.
Jon C. Ogg
July 26, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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