by Christopher Freeburn | July 26, 2012 7:56 pm
Crocs (NASDAQ:CROX) announced on Thursday that during the second quarter it earned $61.5 million, up 11% from $55.5 million in the same period last year.
The shoe maker reported revenue of $330.9 million, up 12% compared to 2011.
EPS came in 68 cents, compared to 61 cents last year.
Wall Street was looking for EPS of 63 cents on revenue of $339.9 million, Reuters noted.
Investors liked the news. Shares of Crocs jumped almost 17% in Thursday trading.
The company said it anticipates earnings for the year of between $1.50 and $1.54 a share. That is above analysts, who predict $1.47 a share.
Company officials cited strong growth in Asia for the increased profits. Sales in Asia jumped 20.5% during the second quarter. Asian sales currently comprise 44% of total revenue.
During the quarter, Crocs’ gross margin edged up from 57.6% last year to 59.3%.
Source URL: http://investorplace.com/2012/07/crocs-shares-soar-on-rising-asia-sales/
Short URL: http://investorplace.com/?p=204997
Copyright ©2013 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.