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Revenues down 4.3% at Iconix in 2012

February 21, 2013 (United States Of America)

Iconix Brand Group, Inc. announced financial results for the fourth quarter and year ended December 31, 2012.

Full Year 2012 results for Iconix Brand Group, Inc.:

Total revenue for the full year 2012 was approximately $353.8 million, as compared to approximately $369.8 million for the prior year. EBITDA attributable to Iconix for 2012 was approximately $217.0 million as compared to approximately $229.6 million in the prior year.

Free cash flow attributable to Iconix for 2012 was approximately $180.5 million as compared to $179.2 million for the prior year. On a non-GAAP basis, as defined in the tables below, net income attributable to Iconix for 2012 was approximately $122.0 million as compared to approximately $127.4 million in the prior year and non-GAAP diluted earnings per share for 2012 was approximately $1.70 versus $1.69 for the prior year.

On a GAAP basis, net income attributable to Iconix for 2012 was approximately $109.4 million as compared to $126.1 million in the prior year and GAAP diluted earnings per share was $1.52 versus $1.67 for the prior year.

Q4 2012 results for Iconix Brand Group, Inc.:

Total revenue for the fourth quarter of 2012 was approximately $85.1 million, as compared to approximately $95.5 million in the fourth quarter of 2011. EBITDA attributable to Iconix for the fourth quarter was approximately $50.0 million, as compared to approximately $57.3 million in the prior year quarter.

Free cash flow attributable to Iconix for the fourth quarter was approximately $37.9 million, as compared to approximately $41.9 million in the prior year quarter. On a non-GAAP basis, as defined in the tables below, net income attributable to Iconix for the fourth quarter was approximately $28.9 million, as compared to approximately $31.3 million in the prior year quarter. Non-GAAP diluted EPS for the fourth quarter was $0.41 compared to $0.41 in the prior year quarter.

GAAP net income attributable to Iconix for the fourth quarter was approximately $26.1 million, as compared to approximately $27.2 million in the prior year quarter and GAAP diluted EPS was $0.37 compared to $0.36 in the prior year quarter. 

EBITDA, free cash flow, non-GAAP net income and non-GAAP EPS are all non-GAAP metrics and reconciliation tables to the respective GAAP measures are attached to this press release.

Neil Cole, Chairman and CEO of Iconix Brand Group, Inc. commented, "Over the past year we have executed on several exciting initiatives that position our company for significant growth. We acquired three iconic brands, continued to expand our global footprint, signed a Peanuts movie deal and launched a new $1.1 billion securitization facility.

Looking to 2013 and beyond, with our powerful portfolio of over 30 brands that are well diversified across numerous industries and geographies along with our strong balance sheet and financial flexibility, we look forward to delivering continued growth and value to our shareholders."


Iconix Brand Group
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