Crocs saw its stock market capitalization plummet by more than 40 percent earlier this week after it reduced its projections for first quarter revenues to a range of $195-200 million, down from a previous estimate of $225 million. The company expects a small loss per share for the quarter of as much as $4.26 million. These projections still represent a revenue increase of 37-41 percent over 2007. The company expects European sales to jump by 90 percent this year. Domestic sales and Asian sales are predicted to grow as well, by 13 percent and 75 percent, respectively. For the full year, Crocs now sees revenues increasing between 15 percent and 20 percent compared with 2007, with earnings declining to an indicated level of $131.2-139.7 million, down from net income of $168.2 million at the end of last year (more in Shoe Intelligence).