Iconix reports revenue increase of 6 percent in Q3

REPORT_ Total revenue for the third quarter of 2014 at Iconix Brand Group was approximately 113.8 million dollars, a 6 percent increase as compared to approximately 107.2 million dollars in the third quarter of 2013. On a non-GAAP basis, netincome attributable to Iconix was 38.3 million dollars, a 16 percent increase as compared to the prior year quarter of approximately 33.1 million dollars.

Commenting on the development, Neil Cole, Chairman and CEO of Iconix Brand Group, said, “Our strong third quarter and year to date results reflect the continued strength of our overall portfolio and the power of our business model. With solid brand performance domestically supported by large direct-to-retail licenses, and double digit growth around the world driven by our global brands and joint ventures, we continue to execute in line with our successful track record.”

Non-GAAP diluted EPS for the third quarter of 2014 increased 23 percent to 0.73 dollars compared to 0.59 dollars in the prior year quarter. GAAP net income attributable to Iconix for the third quarter of 2014 was approximately 33.8 million, a 16 percent increase as compared to 29 million dollars in the prior year quarter, and GAAP diluted EPS for the third quarter of 2014 was 0.58 dollars, a 15 percent increase compared to 0.50 dollars in the prior year quarter.

Total revenue for the nine months ended September 30, 2014 was approximately 348.8 million dollars, a 7 percent increase as compared to approximately 327.4 million dollars for the prior year period. On a non-GAAP basis, net income attributable to Iconix for the nine month period was approximately 117.2 million dollars, a 5 percent increase as compared to approximately 112 million dollars in the prior year period.

On non-GAAP diluted earnings per share was approximately 2.22 dollars for the nine month period, a 20 percent increase against 1.85 dollars for the prior year period. GAAP net income attributable to Iconix for the nine month period of 2014 was approximately 128.9 million dollars, a 26 percent increase as compared to 101.9 million dollars in the prior year period. GAAP diluted EPS for the nine month period of 2014 increased 33 percent to 2.21 dollars compared to 1.67 dollars in the prior year period.

For 2014, the company is maintaining a revenue guidance of 455 dollars-465 million dollars. It is raising 2014 non-GAAP diluted EPS guidance to 2.72 dollars-2.77 dollars from 2.60 dollars-2.70 dollars. It is also raising 2014 GAAP diluted EPS guidance to 2.61 dollars-2.65 dollars from 2.50 dollars-2.60 dollars. For 2015, the company provides revenue guidance of 485 dollars-500 million dollars. Non-GAAP diluted EPS is expected to be in the range of 2.90 dollars-3.10 dollars and GAAP diluted EPS in the range of 2.82 dollars to 3 dollars.