Crocs (CROX - Get Report) shares rose nearly 6% to $16.86 in the extended session on volume of more than 550,000 after the company said it expects its fourth-quarter revenue to come in at the high end of its outlook of $200 million to $205 million.
Wall Street's consensus view is for revenue of $204.5 million in the December-ended quarter. The fashion footwear maker added that it sees annual revenue surpassing $1 billion in fiscal 2011 for the first time in its history.
"Exceeding $1 billion in revenue in less than 10 years is a testament to the power of our global brand and the potential of our Company," said John McCarvel, the company's president and CEO. "Few companies in our industry have reached this milestone so quickly. As we begin our 10th anniversary year in 2012, everyone at Crocs can be proud of what we've achieved together, and we're looking forward to the next 10 years."Crocs shares have lost more than 3% in the past year. The six analysts covering the stock are split between strong buy (2), buy (2), and hold (2), with the 12-month median price target at $25.50 vs. Tuesday's regular session close at $15.95. Other making news late Tuesday included Stryker (SYK - Get Report), which said it sees double-digit percentage growth in its adjusted earnings per share in fiscal 2012, sending the stock up 2% in extended trades; Coldwater Creek (CWTR - Get Report), whose shares fell nearly 5% to 98 cents after the specialty retailer said it sees loss of 18 to 24 cents a share in its fiscal fourth quarter, wider than a previous projection for a loss of 13 to 21 cents a share; and MetLife (MET - Get Report), which said it's exiting the forward residential mortgage business. Shares of MetLife, which expects to record costs as high as $110 million over the next year in relation to the decision, ticked up a penny to $34.56 on volume of around 180,000, according to Nasdaq.com. -- Written by Michael Baron in New York.
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