By David Sterman Walking by my firm's trading desk in 2008, I overheard some chuckling. Turns out, a pair of traders were having a laugh fulfilling a client's seemingly foolish "buy" order for shares of Crocs (NASDAQ:CROX). They wondered if the client had heard that the plastic shoes had been a fad that came and went. When I saw the shares eventually plummet to around $1.10 in early 2009, I assumed they were still laughing. He who laughs last, laughs best. As it turns out, these plastic shoes may be a fad, but the fad has staying power after all. Sales of these shoes had fallen at a double digit clip in 2008 and 2009, and thanks to a bloated cost structure, steadily rising profits quickly turned to losses. Management eventually took a hatchet to costs, and suddenly this former highflyer once again looks like an earnings powerhouse. A Slow Turn Gutsy investors saw the turn coming, even as shares were heading down to the magical $1 mark. Back in the third quarter of 2008, year over year sales comparisons turned slightly positive, although the prospects of full year profits dimmed and Crocs was destined to lose plenty of money in out of season quarters. Yet investors soon saw signs of the company's sharp cost cuts. The company slipped back into the red in the next quarter, but the quarterly loss shrunk by 70% from a year earlier, giving a clue that profits could be respectable once the company moved back into its seasonally strong quarters. Sure enough, Crocs earned $6 million in the seasonally weak first quarter. Fast forward to last Thursday, and Crocs is no longer just a cost cutting story. Second quarter sales rose a hefty +31%, which led to a nice turnaround in profits. Second quarter profits of $32 million, reversed a similarly sized loss from a year ago. That profit performance was nearly +70% better than analysts had expected. And thanks to current demand trends, management thinks sales will be up another +24% in the current quarter as well. All of the sudden, analysts' forecasts look very conservative. They had been modeling for +10% to +12% sales growth in 2010 and 2011, which in and of itself is an impressive feat when you think about sales trends from a few years ago. But it now looks like sales growth could top +25% this year. Equally important, per share profits could approach $0.80 or even $0.90 this year well ahead of the 2010 consensus forecast of $0.47 a share. Add in another +15% sales growth in 2011, and profits could approach $1.25 a share. Shares trade for about 11 times that projection. When a company is in the sweet spot of a fad, shares can climb through the roof. But if the company loses its mojo, it will never quite regain the luster it once had, even if sales rebound back to that former peak and that's why shares are unlikely to ever touch the $75 mark again as they did back in 2007. But there's no reason that Crocs can't trade for 20 times forward earnings, as it looks as if this current sales run is sustainable, and perhaps more reflective of a loyal customer base and not just fickle customers seeking the latest fad. Despite running from $1.10 to $14 in the past 15 months, shares could power into the low to mid $20s once more investors revisit this "new" growth story. Fear 3s ,Fire Red 5s Black Infrared 6s French Blue 7s Air Jordan 11 Low Concord Green Glow 4s Varsity Red 6s Air Jordan 10 Retro Chicago Bulls Air Jordan 13 He Got Game 2013 Air Jordan 10 Retro Stealth Scuba diving is the activity adored by innumerable men and women across the globe. Scuba diving lands you deep in the world of water where you confront the flora and flora kingdom that lies much beneath the land on which we live. For the beginners The obsession for the sport of scuba diving has encouraged almost all the tourist destinations to play, practice and teach it. However, those who are nave to scuba diving should make a judicious start by trying it in resorts. These scuba diving resorts have special instructors that guide you to develop the some basic skills of the sport. It is the best way to learn without casting your life to danger. Many good resorts offer a certification program on completion of which you are awarded by the certificate. This certificate is deemed to be legal in some countries before making your first dive. So it is better to get certified rather than feeding others with opportunity to impede your most cherished dream. Scuba diving camps too are good training spots. The coaching is available there for all those who want it. They not only get the newcomers acquainted with the game but also the learned divers can go there to enhance their diving skills. For the skilled and professionals For those who are perfect at the sport, the journey is never ending. It is because there is no scarcity of the scuba diving destinations. Both the places have a volley of beaches that keep the divers busy throughout the year. For the most part of the year the water is warm that makes the experience all the more majestic. The threat of damage of the all embracing coral here makes it most often mandatory to be assisted by a guide. . The mesmerizing dives in the midst of staggering wreck of colossal vessels can be experienced in the islands of United Kingdom and Ireland. The islands like Oban on the west coast of Scotland, the Scapa Flow in the Orkney Islands, Scotland are prominent wreckage diving sites of United Kingdom. Ireland too has illustrious places like Fastnet Rock, Stag Rocks, etc., in this regard. The wreck sites also include premier places like Yongola of the Southern Queensland. The Austalia's Great Barrier Reef and the islands off the Queensland coast the paradigms. It is better to collect complete information about your destination before heading there. The task can be accomplished online as well as through agents, guides, etc. You require requisite skills and knowledge about the sport. It is better to make your first dive with someone not just familiar but is perfect at the sport for safety is better than cure. Make sure that you move into water with the adequate gear. Fear 3s,Retro Style: Bakelite and Lucite For a retro handbag with some "wow" value, you might look to plastic. In handbags, that typically means either Bakelite or Lucite. Bakelite accessories were big in the '20s and '30s, and are valuable collector's items from the time. But their popularity continued through the 1940s, when, after World War II, the Western World suffered all sorts of shortages. The fashion industry felt the effects in, among other things, a leather short shortage. Lest fashionable woman carry stuff in their pockets (or last year's bag), designers turned to plastics. Typically, these plastics made up handles and frames. Sometimes, though, as in the case of Lucite box shaped purses, they formed the entire bag. Bakelite, for one, is a valuable plastic and isn't really in production anymore, so if you decide to spend on a retro style bag with "Bakelite" details, you may want to check with an expert (an antiques or vintage jewelry dealer, perhaps) to make sure it's real. Otherwise, just enjoy the stylish novelty of plastic. And be wary of pairing it with other plastic accessories. The novelty might wear off. The structure of plastics, and refinement of the classics, would eventually give way to an entirely new attitude and these retro bags are everywhere right now
Buy Mens Fear 3s,Bright Crimson 3s Drew Calvert's hockey equipment has gone untouched for nearly eight months. The former goaltender who had been playing hockey since the age of five and had graduated from the hockey program at Vimy Ridge Academy in 2008, is now in a wheelchair after being run over and dragged by a vehicle in July. Calvert barely survived, with injuries to his shoulders, ribs, spine, pelvis and lungs. Paralyzed from the waist down, he will never be able to walk again. Calvert spent two months at the University of Alberta Hospital, followed by about six months at the Glenrose Rehabilitation Hospital, only finally being able to come home this past March, after his parents finished installing a wheelchair accessible elevator and bathroom into their southeast Edmonton home. "It feels great to be home," he said Wednesday. Calvert's family had to pay over $40,000 to install the special elevator and bathroom. "We needed those two things to make the house accessible enough for him to get out of the hospital," said Calvert's mother Trudy. "It's been a long and drawn out process." But more money needs to be spent on getting him a specially modified vehicle, which could cost up to $50,000 on top of the cost of the vehicle itself. That's where the Edmonton Oilers, Eskimos, and other local sports celebrities come in. The hockey program's Carnival of Champions fundraiser, taking place Sunday, is meant to bring in funds to help Calvert and his family. The Oilers' Zack Stortini and Jason Strudwick, the Eskimo's Aaron Fiacconi and Kyle Koch, other Oilers and Eskimos alumni, Eskimos cheerleaders and Rush dancers, Oil Kings players, Olympic Women's hockey goaltender Shannon Szabados and others will be at the fundraiser over the weekend. "At first I was thinking, 'Why do I deserve this? It's a lot.' But then I started realizing, 'I didn't deserve this,' " Calvert said, motioning to his legs, while sitting in his wheelchair. The fundraiser also includes food, a mobile video game theatre, a dunk tank and various games and challenges for kids. A silent auction will also be taking place, where items such as signed hockey gear from Wayne Gretzky and other Oilers will be auctioned off. Fear 3s Egyptians are concerned that either of the top two candidates set for an election run off Muslim Brotherhood candidate Mohammed Mursi and former Hosni Mubarak era prime minister Ahmed Shafiq will spell an end to democratic gains. The first round of the Egyptian presidential campaign has ended with two in the lead (Getty) More than 40 per cent of the votes went to a range of candidates who were believed to be standing in the spirit of the uprising that led to the demise of Mubarak. But none of them could make the top two and the subsequent run off battle, which has led to disillusionment in some quarters. The most high profile of these, left winger Hamdeen Sabahi, came a close third with 21.5 per cent of the votes. Must ReadDo you live in the most sweary part of the UK?The Orkney Islands come out bottom in the swearing league table, but can you guess which area is at the top? The end is nigh: Satan appears with a massive erectionThe devil has risen. Boy born without fingers gets amazing Iron Man prosthetic handNon profit group E nabling gave three year old Rayven the hand for free, and even coloured it to match his favourite super hero. World fattest cat is on a mission to lose weightHe currently weighs the same as a bowling ball, so he's got a long road ahead of him. Oscar Pistorius NOT guilty of pre meditated murderJudge Masipa said that evidence against the athlete was circumstantial Gnome nappers: Pub landlord held to ransom over kidnapped pub mascotThe captors have demanded 8,495 in cash or they will KILL Alan the Gnome. Our choiceThe must see TV shows of the autumn LatestTrendingHow will new look Saints line up against ToonDid FKA Twiggs tell R Patz about her Mercury Prize nomination?How good is Destiny? 5 ways it could improveThe power of fandom: From Setlock to SaveInTheFleshWelcome back to Earth cosmonaut comrade. have an apple and watermelonNick Offerman makes the best agony aunt everHarry Styles makes Jewish power list1
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