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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Crocs Posts Record Quarter With $363.8M In Revenue 0 comments
    Jul 26, 2013 10:26 AM | about stocks: CROX

    Originally published at www.seclive.com

    Crocs (NASDAQ:CROX) reported a record-breaking second quarter with $363.8M in revenue, a 12.5% gain from first quarter and a 9.9% gain from a year ago. The company's net income was $35.4M, a significant decrease from the same quarter last year with $61.5M while earnings per share were $0.68, compared to $0.40 earnings per share a year ago. Crocs President and CEO John McCarvel remarked that the brand's appeal continues to grow, with the success of its spring/summer product lineup, and that its worldwide demand continues to be the key for its increased growth. The largest items that negatively impacted earnings per share included lower gross margins, from 59.3% to 55.2%, a higher tax rate in Brazil, investments in a new ERP system, and increased marketing initiatives. The company is projecting third quarter revenue between $300M and $310M with $0.20 to $0.23 earnings per share.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: CROX
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