Crocs Misses Estimates In Forecast

Crocs Inc, the locally based maker of those famous and colorful shoes, saw its shares fall sharply in after-hours trading recently as the company’s 2008 earnings forecast fell short of Wall Street expectations.

Nonetheless, Crocs continues to charge forward with even more products distributed world-wide.

In the fourth quarter of 2007 Crocs’ net income soared 84% on strong holiday sales.

Right outside of Boulder, in Niwot Colorado, we have another huge company bringing jobs and revenue to our local marketplace.

While it’s seeing it’s ups and downs financially, the trend seems to be generally very good. Crocs reported net income of $38.3 million in 2007 up from $20.8 million a year earlier. Revenue almost doubled to $224.8 million; domestic sales climbed 47% and international sales more than tripled.

Born and bred in Boulder, CO, the shoe has reached phenomenal status from what started out as an idea to use simple technology for a boating / outdoor shoe oriented around it’s anti slip sole.

With new senior management and the acquisition of Foam Creations, it’s pretty amazing to watch the incredible growth from a simple idea.

Reminds me of a guy named Mo; another Boulder-ite with big ideas back in the 1970’s. Ever heard of Red Zinger?

Comments

Got something to say?