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2015 licensing revenue at Iconix down 1%
30
Mar '16
For the three months to December 31, 2015, licensing revenue at apparel marketer Iconix Group was $94.7 million, down 1 per cent as compared to $96.0 million in the fourth quarter of 2014.

“Licensing revenue included $2.0 million of revenue related to acquisitions of Strawberry Shortcake and Pony brands,” Iconix Group stated in a press release.

“Licensing revenue was also negatively impacted by approximately $1.4 million due to foreign currency exchange rates,” the apparel marketer said.

Excluding the effect of acquisitions and foreign currency exchange rates, licensing revenue declined approximately 2 per cent in the quarter.

Adjusted EBITDA attributable to Iconix for the fourth quarter of 2015 was $38.0 million, a 14 per cent decline as against $44.3 million in the prior year quarter.

On a non-GAAP basis, net income attributable to Iconix was approximately $12.3 million, a 46 per cent decrease as compared to the prior year quarter of approximately $22.7 million.

“Non-GAAP diluted EPS for the fourth quarter of 2015 was $0.25, a 45 per cent dip vis-à-vis $0.45 in the previous year's fourth quarter,” the company informed.

GAAP net income attributable to Iconix for the reporting quarter reflects a loss of $263.0 million versus income of $17.5 million in the fourth quarter of 2014.

While, GAAP diluted EPS for the fourth quarter of 2015 reflects a loss of $5.44 as compared to earnings of $0.32 in the earlier fiscal's corresponding quarter.

Licensing revenue for the full year ended December 31, 2015 was $379.2 million, a 3 per cent decline as compared to $391.5 million for 2014.

According to the Inonix, licensing revenue included $11.9 million of revenue from acquisitions of Strawberry Shortcake and Pony brands.

Licensing revenue was also negatively impacted by $10.1 million, due to foreign currency exchange rates.

In addition, licensing revenue in the comparable 2014 period included $17.1 million of revenue related to the five-year renewal of the Peanuts specials with ABC.

“Excluding the effect of acquisitions, foreign currency exchange rates and the ABC renewal, licensing revenue increased 1 per cent for the year,” Iconix noted.

Adjusted EBITDA attributable to Iconix for 2015 was $172.7 million, an 18 per cent fall as compared to $211.1 million in the prior year.

On a non-GAAP basis, net income attributable to Iconix for 2015 was $66.4 million, a 36 per cent drop as against $103.6 million in the earlier year.

Non-GAAP diluted earnings per share were $1.33, a 33 per cent decrease versus $1.98 for the previous year.

GAAP net income attributable to Iconix for 2015 reflects a loss of approximately $189.3 million vis-à-vis income of $103.7 million in 2014.

Free cash flow attributable to Iconix for 2015 was $188.9 million, up 14 per cent over the prior year period of $165.4 million and in 2015; the company received a tax refund of approximately $15.5 million. (AR)

Fibre2Fashion News Desk – India


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