Footwear maker Crocs Inc reported its results of operations for the second quarter ended June 30, 2006.
Revenues for the second quarter ended June 30, 2006 increased 231.8% to $85.6 million compared to revenues of $25.8 million for the second quarter ended June 30, 2005. Revenue for the six months ended June 30, 2006 increased 255.6% to $130.5 million compared to revenues of $36.7 million for the six months ended June 30, 2005.
Net income attributable to common stockholders for the second quarter of fiscal 2006 was $15.7 million, or $0.39 per diluted share, compared to net income attributable to common stockholders of $3.3 million, or $0.10 per diluted share, for the second quarter of fiscal 2005.
Second quarter net income attributable to common stockholders includes non-cash share-based compensation expense, net of tax effect, of $1.5 million compared to $685,000 for the comparable period of 2005.
Net income attributable to common stockholders for the six months ended June 30, 2006 was $22.1 million, or $0.56 per diluted share, compared to net income attributable to common stockholders of $5.3 million, or $0.16 per diluted share, for the six months ended June 30, 2005.
Ron Snyder, President and CEO of Crocs Inc, said, "Our second quarter results were much stronger than we anticipated due to increased demand for our footwear both domestically and overseas. Importantly, sales were driven by robust demand for our core product, as well as positive consumer reaction to our new styles, such as Athens, Off-Road and Scutes. At the same time, we drove improvements in operating leverage, which allowed us to generate a significant improvement in our bottom line."
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