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Iconix Brand registers record revenue in Q4
24
Feb '12
Iconix Brand Group Inc announced financial results for the fourth quarter and year ended December 31, 2011. Total revenue for the full year 2011 was approximately $369.8 million, an 11% increase as compared to approximately $332.6 million for the prior year. EBITDA attributable to Iconix for 2011 increased 10% from the prior year to approximately $229.6 million. Free cash flow for 2011 was approximately $179.2 million, an 8% increase over the prior year.

Total revenue for the fourth quarter of 2011 was approximately $95.5 million, a 9% increase as compared to approximately $88.0 million in the fourth quarter of 2010. EBITDA attributable to Iconix for the fourth quarter was approximately $57.3 million. Excluding a one-time litigation gain in the fourth quarter of 2010, EBITDA increased 34% over the prior year quarter.

Free cash flow attributable to Iconix for the fourth quarter was approximately $44.9 million.

Neil Cole, Chairman and CEO of Iconix Brand Group, Inc. commented, "We are pleased to report that 2011 was another record year for our Company. We continued to successfully execute our growth strategy through organic initiatives and acquisitions and look forward to continuing to build global businesses for our diverse portfolio of iconic brands.

We see international expansion as the next big phase of growth for our Company and through our partnerships in China, Latin America, Europe and our newly announced joint venture in India we are well positioned to maximize the value of our brands around the world. In 2012, we remain committed to creating shareholder value by executing our growth initiatives and will continue to evaluate share repurchases as an additional way to deliver value."

2012 Guidance for Iconix Brand Group, Inc.:

The Company is reaffirming its full year 2012 revenue guidance of $370-$385 million, 2012 non-GAAP diluted EPS guidance of $1.77-$1.84, 2012 GAAP diluted EPS guidance of $1.62-$1.69 and 2012 free cash flow guidance of $187-$194 million. This guidance relates to the existing portfolio of brands and does not include any additional acquisitions.

Iconix Brand Group Inc

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