For its 2012 financial year, Crocs has reported an increase in turnover of 12 percent to $1.12 billion, which equals a 14 percent increase in constant currencies. The shoe brand improved its gross margin by 0.5 percentage points to 54.1 percent. The net income soared by 17 percent to $131.3 million excluding non-operating items. Altogether, the company sold some 50 million pairs of shoes last year with growth in the double digits in the U.S. and Asia, but with a slight decline of 0.8 percent in Europe to $169.5 million. The fourth quarter, however, was by far less successful with a net loss of $3.6 million compared wih a profit of $5.6 million in the previous year's period. Total sales increased in the last three months by 10.4 percent to nearly $225.0 million globally, with a 10.9 percent increase in local currencies, but sales in Europe were off by 14.4 percent to $13.2 million in the wholesale channel, up by 128 percent to $9.9 million at retail and up by 15.2 percent to $4.9 million online (more in Shoe Intelligence).