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Crocs CFO on 1Q Earnings, New Products

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    Crocs CFO Jeff Lasher on the company’s earnings and expanding product line.

  • Duration 4:49
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Of Crocs we follow this company a lot okay they're down slightly today but what's more interesting is -- -- Yesterday in the after market session sell some ten per cent.

After a lower than expected second quarter outlook that they beat on both the top and bottom line it was the outlook that spooked some investors now one analyst tells us.

This may be part of a strategy by the company to prop.

Up a second quarter beat is that true well let's find out joining us now for the Fox Business exclusive from Denver Jeff blaster.

Is the CFO of Crocs just is there any validity anatomy that you would want -- lower expectations so that you can -- beat them.

Yeah -- -- it's nice to be here today thank you for having me on your second ball you know I think as far as the the first quarter results we that we grew 20% on the top line.

For first quarter we expect the second quarter revenue growth to be seventeen to 19% FX neutral.

So we're pretty happy with our results and you we're we're out there looking at the market every day and incorporating that into our expectations for second quarter so.

There's nothing to that rumor but we're happy to be here today were happy and -- -- that resulted in first quarter.

Well I would be too I mean as you look at these numbers and and by the way the stock is up 36%.

Year to date again people have to stop looking at this company is sort of a summer company you worked very hard to present a fall line.

From the sort of the colder months how to that -- Yeah I think when we look out into the second half of the year were really excited -- 2012 fall holiday product line.

Rain boots.

Winter boots children's -- back to school products that we're really excited about going into the second half.

First half of the year you know -- -- into our new products -- table story just to lighten up a little bit.

Had a friend of mine that's out posted on her FaceBook page -- like four or 500 followers she said hey.

Why can't she manufactures make a -- issue that's age appropriate for me.

In my age and you know we came out with this product.

It's a great product for women.

And you know we -- where -- issue when you.

Well yeah it looks like that's sort of an ass but really kind of thing that looks very comfortable I'm a fan of crops and it goes -- about what the chameleon which change color depending on the temperature yet the -- flat.

A -- -- golf's.

We've got some of these on our table but what's on.

Benny our floor director seat right now is the approach -- which to new looks more like a ban can you model those Carol Merrill thank you very much.

-- what is she like -- gonna do for you as he does by the way.

-- -- -- -- -- -- -- it's great to have these new price and we we were found that on a boat.

Back in 2010 -- ten year old company this year we are found in -- -- nice feedback we also have a for women's like in this product -- here.

We have both men's and women's boat shoes for 2012.

It's great feedback in the -- market with a relevant products -- that segment.

And it's great that's a lot of different products that were we're proud to show off.

You're in 990.

Countries your revenue increases in Asia looked pretty significant.

Can you tell me which parts of Asia do you sense any slowdown from your Chinese business.

Well you know Asian total for the first quarter was up 40% so why grows strong first first quarter revenue growth in Asia.

That was really across the Asian market Japan did well China's -- well.

All of our markets and Asia had a a strong performance so.

Really happy with our performance in Asia but I also don't want to.

Overlook Americas grew 17%.

In the first quarter great performance in any in a tough market here in the United States.

And then over in Europe even though we are down on a nominal basis important to know that.

On an FX neutral basis we were up 2% so.

You know so there's a lot of optimism in Europe as we.

I'll look out into the -- -- 22014 with a recovery that could happen out over there -- right now you know we're still showing a growth even against some pretty tough comps last.

Right right that's true the cops were word considerable and I have to say this that that here's why I love Crocs and and not necessarily.

You know at the product is I'd love the spirit of this company because as you said ten years ago.

Created on a boat.

Came up against a lot of knock offs you grew exponentially I mean you talk about Europe and tiny -- -- -- and I remember that's six years ago my son was true.

One even and and heat kicked off one of -- Crocs from his stroller and we lost at -- and I thought weren't for Bob sort of -- -- -- right building's sole -- -- Preval also congratulations on holding up up to more of your products again.

One for the adult and then of course that the rain boots now for the children to be up against counterfeits is are being in New York -- great to see you thank you so much.

Thank you for having me and have a great day tell John a car but we said hello into the holding out there in Colorado.

I will take care are.

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