Company to Present at ICR XChange Conference on January 11th
NIWOT, Colo.--(BUSINESS WIRE)--Jan. 10, 2012--
Crocs, Inc. (NASDAQ: CROX) today announced that it expects annual
revenue to surpass $1 billion for the first time when the Company
reports results for the year ended December 31, 2011.
The Company now estimates that Q4 revenue will be at the high end of the
prior guidance of $200 to $205 million. This compares with the Company’s
reported revenue of $790 million for the year ended December 31, 2010.
“Exceeding $1 billion in revenue in less than 10 years is a testament to
the power of our global brand and the potential of our Company,” said
John McCarvel, Crocs President and Chief Executive Officer. “Few
companies in our industry have reached this milestone so quickly. As we
begin our 10th anniversary year in 2012, everyone at Crocs
can be proud of what we’ve achieved together, and we’re looking forward
to the next 10 years.”
Crocs is scheduled to present at the 14th Annual ICR XChange
Conference in Miami Beach, Florida on January 11, 2012 at 11:05 am
Eastern Time. This press release does not update or reaffirm our
previously issued Q4 2011 earnings guidance. Full Q4 2011 financial
results will be disclosed in late February.
About Crocs, Inc.
A world leader in innovative casual footwear for men, women and
children, Crocs, Inc. (NASDAQ: CROX), offers several distinct shoe
collections with more than 250 styles to suit every lifestyle. As
lighthearted as they are lightweight, Crocs(TM) footwear provides
profound comfort and support for any occasion and every season. All
Crocs(TM) branded shoes feature Croslite(TM) material, a proprietary,
revolutionary technology that produces soft, non-marking, and
odor-resistant shoes that conform to your feet.
Crocs(TM) products are sold in 90 countries. Every day, millions of
Crocs(TM) shoe lovers around the world enjoy the exceptional form,
function, versatility and feel-good qualities of these shoes while at
work, school and play.
Visit www.crocs.com
for additional information.
Forward-looking statements
The matters regarding the future discussed in this news release
include “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements include, but
are not limited to, statements regarding 2011 revenue. These statements
involve known and unknown risks, uncertainties and other factors which
may cause our actual results, performance or achievements to be
materially different from any future results, performances, or
achievements expressed or implied by the forward-looking statements.
These risks and uncertainties include, but are not limited to, the
following: macroeconomic issues, including, but not limited to, the
current global financial conditions; the effect of competition in our
industry; our ability to effectively manage our future growth or
declines in revenue; changing fashion trends; our ability to maintain
and expand revenues and gross margin; our ability to accurately
forecast consumer demand for our products; our ability to develop and
sell new products; our ability to obtain and protect intellectual
property rights; the effect of potential adverse currency
exchange rate fluctuations and other international operating risks; our
ability to open and operate additional retail locations; and other
factors described in our most recent annual report on Form 10-K under
the heading “Risk Factors” and our subsequent filings with the
Securities and Exchange Commission. Readers are encouraged to review
that section and all other disclosures appearing in our filings with the
Securities and Exchange Commission. We do not undertake any obligation
to update publicly any forward-looking statements, including, without
limitation, any estimate regarding revenues or earnings, whether as a
result of the receipt of new information, future events, or otherwise.
Source: Crocs, Inc.
Investors:
Crocs, Inc.
Kevin Kim, 303-848-7000
kkim@crocs.com
or
ICR,
Inc.
Brendon Frey, 203-682-8200
brendon.frey@icrinc.com
or
Media:
Crocs,
Inc.
Shelley Weibel, 303-848-7000
sweibel@crocs.com