Optimistic Outlook at Crocs

The company's third-quarter net income soars.
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Crocs

(CROX) - Get Report

, a maker of shoes, said its third-quarter net income nearly tripled year over year.

Revenue for the quarter jumped to $111.3 million from $38.3 million last year. Earnings rose to $21.5 million, or 53 cents a share, from $7.4 million and 22 cents a share in the same period a year ago.

The results for the latest quarter were well ahead of Wall Street's estimates for earnings of 41 cents and sales of $92.2 million.

For the fourth quarter ending Dec. 31, Crocs expects revenue of $92 million to $95 million and a profit of 40 cents to 43 cents. Full-year revenue should be $334 million to $337 million with earnings of $1.50 to $1.53.

On average, analysts surveyed by Thomson Financial are looking for a profit of only 29 cents in the fourth quarter and $1.26 for the year. The consensus revenue targets are $79.2 million in the quarter and $301.8 million for 2006.