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Crocs reports record revenue

Crocs Inc. CROX, +0.93% reported fourth-quarter net income of $183.3 million, or $2.69 per share, up from $19.9 million, or 29 cents per share last year. Adjusted EPS of $1.06 was well ahead of the FactSet consensus for 81 cents. Revenue of $411.5 million reached a record, according to the company, up from $263.0 million last year and also ahead of the FactSet consensus for $408.0 million. Full-year revenue also reached a record $1.4 billion, up 12.6% from the year before. Fourth-quarter retail comparable sales were up 40.9% and e-commerce sales were up 92%. For the first quarter, Crocs expects revenue growth between 40% and 50%. The FactSet consensus is for $363.4 million, suggesting growth of 29.2%. And for the full year, Crocs is guiding for revenue growth between 20% and 25%. The FactSet consensus is for $1.694 billion, suggesting growth of 22.2%. Crocs shares dipped 0.3% in Tuesday premarket trading, but have more than doubled over the past year, up 126.5%. The benchmark S&P 500 index SPX, -0.77% has gained 16.1% over the past year.

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