Niwot-based Crocs Inc. said fourth-quarter earnings increased to $20.8 million or 51 cents a share. A year ago, the company had earnings of $4.17 million or 12 cents a share.
The sandalmaker also reported full-year profits of $64.4 million for 2006, compared to $17 million in 2005.
The company attributed the gains to strong retail demand for its product.
“Throughout the quarter we witnessed ongoing demand for our classic footwear both here and abroad, coupled with growing consumer acceptance of our new styles,” Crocs president and CEO Ron Snyder said in a statement issued by the company. “At the same time, our Collegiate and Disney collections are both off to a tremendous start which bodes well as we look to further expand and evolve our licensing programs. We enter the new year with great momentum evidenced by our heightened outlook for 2007.”
In its 2007 guidance, the company said it expects revenues to range from $113 million to $117 million and projects net income per diluted share to range from 47 to 49 cents.
The company raised its fiscal 2007 revenue and diluted earnings per share growth targets to more than 45 percent over 2006, an increase of 30 percent over previous guidance.
