Plastic clog maker Crocs Inc has delivered sales and profit growth for the eighth quarter in a row on strong international demand for its branded footwear.

In its fourth quarter to 31 December, net income increased 84.1% to $38.3m, or $0.45 per share, from $20.8m, or $0.26 per share, in the same period of the previous year.

Revenues for the three months soared by 99.1% to $224.8m from $112.9m.

Domestic sales rose 47% to $115.8 million compared to $78.8 million a year ago and international sales were up 221% to $109m from $34m a year ago.

Gross profit for the fourth quarter was $125.8m, or 56.0% of revenues, compared to $65.1m, or 57.7% of revenues last time.

Ron Snyder, president and CEO, said: "We experienced better than expected sell through of our fall line across men's, women's, and children's in each of our markets.

"To meet the higher than anticipated orders over the holiday period we delivered a meaningful amount of Mammoths [a new line of fleece-lined Crocs] by air-freight, which impacted our gross margin.

"As we approach the spring and summer selling seasons, our bookings are strong compared to 31 December 2006, our inventories are on plan and we believe we are well positioned to achieve our short and long-term growth objectives."
Revenues for the year were up 138.9% to $847.4m from $354.7m, with domestic sales up 82% to $440m and international sales increasing 264% to $408m.

Full-year net income jumped 161.2% to $168.2m, or $2.00 per share, from $64.4m, or $0.81 per share in the prior year.

Crocs reiterated its growth targets for the year to 31 December 2008 for revenues to rise to $1.16bn and profit per share up to $2.70.

Despite this, Crocs shares fell 10% in late trading yesterday (19 February) amid concerns of slowing growth and rising inventory levels.