UPDATE: Crocs shares rise 9% after better-than-expected earnings and sales

Crocs Inc. CROX, -1.81%stock rose 9% in Tuesday premarket trading after the shoe company reported first-quarter earnings and sales that exceeded expectations. Net income totaled $12.5 million, or 15 cents per share, up from $7.2 million, or 8 cents per share, year-over-year. Revenue for the quarter was $283.

1 million, up from $267.9 million last year. The FactSet consensus was 12 cents per share on sales of $272 million. The company expects second-quarter revenue of $315 million to $325 million. The FactSet consensus is $310.8 million. And for the full year, Crocs is guiding for revenue to increase in the low-single digits above the $1.02 billion last year, with e-commerce and wholesale growth offsetting revenue declines from store closures and other changes to the business model. The FactSet consensus is for revenue of $1.02 billion. Crocs shares are up nearly 20% for the year to date, outpacing the S&P 500 index SPX, +0.35%which is about breakeven for the period.