Crocs fourth-quarter income tops estimates, sending shares sharply higher

Investing.com - Crocs has reported better-than-anticipated income in the fourth quarter, as the footwear group was boosted by demand in North America and accelerating growth in China.

Shares in the company surged by more than 16% in premarket U.S. trading following the results.

Net income on an adjusted basis fell by 7% versus a year ago to $146.2 million. Analysts had projected $133.7 million, according to Bloomberg consensus estimates.

Adjusted earnings per share for the period came in at $2.52, above analysts' expectations of $2.26.

Sales also increased by 3.1% year-on-year to $989.8 million, compared with $962 million seen by Wall Street.

(This is a developing story. Please check back later for updates.)

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