Crocs (CROX-NASDAQ): $0.51 EPS & Revenues $112.9 million.
Estimates were $0.43 EPS & $96.5 million.

CROX guided $0.47-0.49 vs $0.35 and $113 to $117 million in revenues versus $84 million estimates; Raises Fiscal 2007 Revenue and EPS Growth Targets to +45% from +30%.  CROX also signed NASCAR as a partner now, although don’t expect drivers to wear them during a race.  CROX shares are up 4% at $5.50+, back on year highs in after-hours.

These estimates were only a benchmark because the stock was up almost 200% from its 52-week lows of $20.32.  The company had to beat and beat big to please the street and just to emphasize this the current at-the-money puts were $3.10 and that was when the shares were $0.75 to $0.90 out of the money.  So depending on how you calculate options, this was looking for a $3.00 to $4.00 move based on pricing.  That even seems low in afterthought, because this is one that you could have guessed would have easily had more than a $5.00 swing.  Keep in mind the cult status of this stock creates extra swings, plus this usually has a huge short interest.

Jon C. Ogg
February 20, 2007