Crocs, Inc. (NASDAQ:CROX) reports 1Q18 Profit Surge

Crocs, Inc. (NASDAQ:CROX) reported net income for the first quarter of $ 12.52 million or $ 0.15 per share, compared to income of $ 7.16 million or $ 0.08 per share for the year-ago quarter.

The topline results for the first quarter rose 6% to $ 283.15 million from $ 267.91 million in the same quarter last year.

Analysts polled by Thomson Reuters expected Crocs, Inc. to report income of $ 0.13 per share on revenue of $ 272.21 million for the first quarter.

Andrew Rees, President and CEO, said: The year is off to a strong start, with first quarter results exceeding guidance on all metrics. Our Spring/Summer 2018 collection is being well-received, and our LiteRide launch surpassed our expectations. We continue to successfully execute against our strategic priorities and are increasing our guidance.

At the same time, Crocs, Inc. anticipates full year 2018 revenue to be $1023.5 million, while revenue for the next quarter are expected in a range of $315 million to $325 million.

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