Crocs'S Revenue Is High And Straight To $300 Million.

Crocs announced its first quarter results.

In the first quarter of 2012, revenue increased 19.9% to $271 million 800 thousand from 226 million 700 thousand US dollars in the same period last year (2011 first quarter).

Net income in the first quarter of 2012 was 21 million 500 thousand US dollars in the same period last year, equivalent to 0.24 US dollars per diluted share, up to 28 million 300 thousand US dollars, equivalent to 0.31 US dollars per diluted share.

Asia and the Americas have led to this quarter's sales growth, partly offset by a slight drop in European sales.

In terms of the location of land, the income of the Americas increased by 17.1%, while Asia increased by 40.5%, but Europe decreased by 2.7%.

In terms of sales channels, wholesale sales increased by 15.9% to $190 million 700 thousand from $164 million 600 thousand in the same period last year.

Retail sales increased by 33.2% to $60 million 600 thousand from $45 million 500 thousand in the same period last year.

As for the retail sector, the company has increased to 439 from 371 in the same period last year as of the end of the fiscal season.

On the basis of monetary neutrality, global same store sales increased by 10.2% in the first quarter of 2012.

The company expects to continue to open 80 to 100 retail stores this year.

As for online sales, it increased by 23.3% to $20 million 500 thousand from $16 million 700 thousand in the same period last year.

John McCarvel, chairman and chief executive officer, said: "following the first record breaking of US $1 billion sales last year, Crocs started its strong sales in 2012.

In addition to a slight decline in European wholesale business due to the regional economic downturn, nearly twenty sales growth in the first quarter was due to successful cross regional and distribution channels.

In addition, sales growth also depends on our effective implementation of different channels and diversified distribution modes, and providing consumers with all weather and many different choices of shoes to meet different needs.

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In the first quarter of 2012, gross profit increased by 21.5% from US $119 million 200 thousand in the same period last year, to 21.5% US $144 million 800 thousand, accounting for 53.3% of sales.

Sales, general and administrative expenses rose 17.5% to 104 million 100 thousand US dollars from the US $88 million 600 thousand in the first quarter of last year. Compared with the percentage of sales, sales, general and administrative expenses dropped from 39.1% in the first quarter of 2011 to 38.3% in the current quarter.

Balance sheet

The cash and cash equivalents of the company increased by 78.9% to $206 million 600 thousand from $115 million 500 thousand in March 31, 2011.

As of March 31, 2012, the stock price increased by 9.9% to 169 million 100 thousand US dollars from the same period last year (up to March 31, 2011) of US $153 million 800 thousand.

Order inventory

Order inventories increased by 11% to $289 million compared with $260 million in the same period last year (up to March 31, 2011).

Financial measurement target

The company expects the second quarter of 2012.

It will range from $335 million to $340 million, equivalent to about $0.61 to $0.63 per diluted share.

The target is based on a hypothetical 22% effective tax rate and a euro exchange rate of 1.31 US dollars and a 82.5 yen exchange rate for us dollars.

Crocs chairman and chief executive officer, John McCarvel, said: "we are very pleased to be able to celebrate the 10th anniversary year of Jianye to achieve such a strong performance.

Based on the global influence of Crocs brand and the comfort message of exclusive promotion of "Crocs Inside", we continue to strive for sustained growth in sales, profits and shareholder value.