Crocs more than doubles revenue
Having made its mark in the footwear market in a very short time, America’s Crocs continues to advance its sales and revenue.
The company, which is best known for its brightly-coloured proprietary closed-cell resin footwear, has reported a 99.1% rise in revenue for the fourth quarter ended December 31, to reach $224.8 million, up from $112.9 million for the comparable quarter in the previous year. Domestic sales rose approximately 47% to $115.8 million, up from $78.8 million a year ago, while international sales increased 221% from $34 million to an astounding $109 million.
Revenues for the full year were even better, improving a massive 138.9% to $847.4 million compared with $354.7 million in 2006, with domestic sales rising approximately 82% to $440 million from $242 million while international sales increased 264% to $408 million from $112 million a year ago.
Ron Snyder, president and chief executive commented: “We are very pleased to have completed a landmark year in our company’s development with record sales and profits and several important strategic advances. 2007 was highlighted by the evolution of our product line, our significant expansion overseas, key investments in our operating platform, and the growing popularity of the Crocs brand in various markets throughout the world. At the same time, we acquired and developed other businesses and diversified into additional categories which we believe will provide us with compelling new growth vehicles for the future.”
