Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934


Download 2.19 Mb.
NameÝ annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934
page1/38
A typeReport
manual-guide.com > manual > Report
  1   2   3   4   5   6   7   8   9   ...   38


Use these links to rapidly review the document

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

ý

 

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


For the fiscal year ended December 31, 2007


or


o


 


TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from            to            
Commission File No. 0-51754

CROCS, INC.

(Exact name of registrant as specified in its charter)

Delaware

 

20-2164234

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

6328 Monarch Park Place

Niwot, Colorado 80503

(303) 848-7000

(Address, including zip code and telephone number, including area code, of registrant's of principal executive office)
Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

 

Name of each exchange on which registered:

Common Stock, par value $0.001 per share

 

The NASDAQ Global Select Market

Securities registered pursuant to Section 12(g) of the Act:

None

         Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ý No o
         Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No ý
         Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes  ý No  o
         Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of the Form 10-K or any amendment to the Form 10-K.  o .
         Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of "large accelerated filer," "accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ý

 

Accelerated filer o

 

Non-accelerated filer o

(Do not check if a smaller reporting company)

 

Smaller reporting company o

         Indicate by check mark whether the registrant is shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No ý
         The aggregate market value of the voting common stock held by non-affiliates of the registrant as of June 30, 2007 was $3,330,822,527. For the purpose of the foregoing calculation only, all directors and executive officers of the registrant and owners of more than 5% of the registrant's common stock are assumed to be affiliates of the registrant. This determination of affiliate status is not necessarily conclusive for any other purpose.
         The number of shares of the registrant's common stock outstanding as of January 31, 2008 was 82,440,332.
DOCUMENTS INCORPORATED BY REFERENCE
         Part III incorporates certain information by reference from the registrant's proxy statement for the 2008 annual meeting of stockholders to be filed no later than 120 days after the end of the registrant's fiscal year ended December 31, 2007.

Crocs Inc.

2007 Annual Report on Form 10-K
Table of Contents




 

 

PART I

Item 1.

 

Business

Item 1A.

 

Risk Factors

Item 1B.

 

Unresolved Staff Comments

Item 2.

 

Properties

Item 3.

 

Legal Proceedings

Item 4.

 

Submission of Matters to a Vote of Security Holders

 

 

PART II

Item 5.

 

Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 6.

 

Selected Financial Data

Item 7.

 

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7A.

 

Quantitative and Qualitative Disclosures About Market Risk

Item 8.

 

Financial Statements and Supplementary Data

Item 9.

 

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9A.

 

Controls and Procedures

Item 9B.

 

Other Information

 

 

PART III

Item 10.

 

Directors, Executive Officers and Corporate Governance

Item 11.

 

Executive Compensation

Item 12.

 

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 13.

 

Certain Relationships and Related Transactions, and Director Independence

Item 14.

 

Principal Accounting Fees and Services

 

 

PART IV

Item 15.

 

Exhibits, Financial Statement Schedules

Signatures





FORWARD-LOOKING INFORMATION
        Throughout this report, references to the "Company," "we" and "our" refer to Crocs, Inc. and its consolidated subsidiaries, unless the context indicates otherwise.
        Statements in this Form 10-K (or otherwise made by us or on our behalf) contain various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the "Securities Act", and Section 21E of the Securities Exchange Act of 1934, as amended, or the "Exchange Act," which represent our management's beliefs and assumptions concerning future events. When used in this document and in documents incorporated by reference, forward-looking statements include, without limitation, statements regarding financial forecasts or projections and our expectations, beliefs, intentions or future strategies that are signified by the words "expects," "anticipates," "intends," "believes," "plans," or similar language. These forward-looking statements are subject to risks, uncertainties and assumptions that could cause our actual results and the timing of certain events to differ materially from those expressed in the forward-looking statements including risks such as "our limited operating history," "our significant recent expansion," "changing fashion trends," "our reliance on market acceptance of the small number of products we sell," "our ability to develop and sell new products," "our limited manufacturing capacity and distribution channels," "our reliance on third party manufacturing and logistics providers for the production and distribution of our products," "our reliance on two vendors for certain raw materials," "our management and information systems infrastructure," "our ability to obtain and protect intellectual property rights," "the effect of competition in our industry," "the effects of seasonality on our sales," "our ability to attract, assimilate and retain management talent," and other similar statements. It is routine for our internal projections and expectations to change as the year or each quarter in the year progresses, and, therefore, it should be clearly understood that the internal projections, beliefs and assumptions on which we base our expectations may change prior to the end of each quarter or year. Although these expectations may change, we undertake no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise.
        You should understand that many important factors, in addition to those discussed or incorporated by reference in this report, could cause our results to differ materially from those expressed in the forward-looking statements. Potential factors that could affect our results include, in addition to others not described in this report, those described in Item 1A. "Risk Factors" of this report. In light of these risks and uncertainties, the forward-looking events discussed in this report might not occur.

PART I




ITEM I.    Business
Overview
        We are a rapidly growing designer, manufacturer, distributor, worldwide marketer and brand manager of footwear for men, women, and children. We design and sell a broad offering of footwear, apparel, gear and accessories that utilize our proprietary closed cell-resin, called Croslite. In the past several years, we realized high demand for our Croslite products, specifically, our classic Beach and Cayman models. Croslite is a unique material that enables us to produce an innovative, soft, lightweight, non-marking, slip and odor-resistant shoe. Crocs shoes combine fun colors and innovative designs to provide a new level of comfort, functionality and style in the casual lifestyle footwear category.
        Since the initial introduction and popularity of our Beach and Cayman models, we have expanded our Croslite products to include a variety of new styles and products and have extended our product reach through the acquisitions of new brand platforms such as Jibbitz, LLC ("Jibbitz"), Fury Hockey,
2




formerly 55 Hockey Products, Inc. ("Fury"), Ocean Minded, LLC ("Ocean Minded"), Bite, LLC ("Bite"), and through various licensing agreements.
        We currently sell our Crocs-branded products throughout the U.S. and in over 90 countries worldwide. We sell our products through quality domestic and international retailers and distributors and directly to end-user consumers through our webstores, Company-operated retail stores and kiosks. The broad appeal of our footwear has allowed us to market our products to a wide range of distribution channels, including department stores and traditional footwear retailers as well as a variety of specialty channels. As of December 31, 2007, our customer base domestically and internationally expanded to over 13,000 and 19,000 customer locations selling our products, respectively.
Our History
        We were organized as a limited liability company in 1999 and began marketing and distributing footwear products in the U.S. under the Crocs brand in 2002, shortly after completing the modification of a shoe produced by Crocs Canada Inc. ("Crocs Canada"), formerly known as Foam Creations Inc., and Finproject N.A., Inc. The unique characteristics of Croslite, developed by Crocs Canada, enabled us to offer consumers an innovative shoe unlike any other footwear model then available. Initially, we targeted our products to water sports enthusiasts, but the comfort and functionality of our products appealed to a more diverse group of consumers who used our footwear for a wide range of activities. To capitalize on the broad appeal of our footwear, we expanded our sales infrastructure, strengthened our senior management team, and developed relationships with a range of retailers in the U.S. In June 2004, we acquired Crocs Canada, including its manufacturing operations, product lines, and rights to the trade secrets for Croslite. We converted to a Colorado corporation in January 2005 and reincorporated in Delaware in June 2005. Since June 2004, we have significantly expanded all aspects of our operations in order to take advantage of what we believe to be an attractive market opportunity.
  1   2   3   4   5   6   7   8   9   ...   38

Share in:

Related:

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconÞ annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconÞ annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15 (d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconÞ annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934

Ý annual report pursuant to section 13 or 15(d) of the securities exchange act of 1934 iconAnnual report pursuant to section 13 or 15(d) of the securities exchange act of 1934




manual


When copying material provide a link © 2017
contacts
manual-guide.com
search