Crocs Beats Estimates; Guidance Disappoints (CROX)

High flying footwear apparel company Crocs, Inc. CROX released its first quarter earnings results after the closing bell on Thursday. The company reported net income of $21.5 million, or $0.24 per share, compared to $5.7 million, or $0.07 per share, in the year ago period. This compared with Wall Street consensus EPS estimates of $0.20. Revenues for the quarter were up 35.9% to $226.7 million compared to $166.9 million in last year's corresponding quarter. This also beat Street consensus revenue estimates of $216.10 million. Looking ahead, the company expects Q2 earnings per share of $0.43 on revenue of $280 million. Wall Street analysts are currently projecting Q2 EPS of $0.44 on revenue of $281.64 million.