Crocs announces 2010 profit of $423.8m
Footwear brand Crocs has announced its financial results for the fourth quarter and fiscal year ended 31 December 2010.
Revenue for the fourth quarter of 2010 increased 32% to $179.2 million, over revenue of $136 million reported in the fourth quarter of 2009. Net income for the fourth quarter 2010 improved to $4.7 million, compared to a net loss of $11.4 million in the fourth quarter 2009.
Gross profit for the fourth quarter of 2010 increased 43% to $86.3 million.
Revenue for 2010 increased 22% to $789.7 million, over revenue of $645.8 million reported in 2009. Net income for 2010 improved to $67.7 million, compared to a net loss of $42.1 million in 2009.
Gross profit for 2010 increased 41% to $423.8 million.
“We reengaged the consumer during 2010 through great product and more effective marketing and merchandising programs,” said John McCarvel, president and CEO. “Our recent performance demonstrates we are succeeding at generating new demand and evolving into a year-round brand as we continue to diversify our product line. At the same time, we’ve made important investments in our operating platform to support our multi channel growth strategy and drive efficiency.”
