Crocs Swings To Profit; Outlook Bright

Crocs swings into the black in the first-quarter and issues second-quarter guidance that's higher than Wall Street's.
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NEW YORK (

TheStreet

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Crocs

(CROX) - Get Report

swung to profit in its first-quarter and issued second-quarter guidance that topped estimates.

During the quarter the company earned $5.7 million, or 7 cents a share, compared with a loss of $22.4 million, or 27 cents, in the year-ago period. Analysts expected a smaller gain of 2 cent a share.

Revenue jumped 24% to $166.9 million from $134.9 million last year.

Looking ahead, Crocs foresees second-quarter earnings in the range of 18 cents to 22 cents a share, ahead of Wall Street's estimate of 17 cents a share.

Shares of the footwear maker are gaining 3.2% to $9.59 in after-hours trading.

--Reported by Jeanine Poggi in New York.

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