Iconix Brand Group posts record Q4 sales

21 Feb '14

4 min read

Iconix Brand Group, Inc. announced financial results for the fourth quarter and year ended December 31, 2013.

Highlights:

-Record Q4 revenue of $105.3 million, a 24% increase over prior year quarter

-Record Q4 non-GAAP diluted EPS of $0.54, a 32% increase over prior year quarter

-Record Q4 free cash flow of $62.9 million, a 66% increase over prior year quarter

-Record 2013 revenue of $432.6 million, a 22% increase over prior year

-Record 2013 non-GAAP diluted EPS of $2.39, a 41% increase over prior year

-Record 2013 free cash flow of $229.9 million, a 27% increase over prior year

-2013 share repurchases of $436 million, or 24% of shares outstanding

Q4 2013 Results for Iconix Brand Group, Inc.:

Total revenue for the fourth quarter of 2013 was approximately $105.3 million, a 24% increase as compared to approximately $85.1 million in the fourth quarter of 2012. EBITDA attributable to Iconix for the fourth quarter was approximately $60.1 million, a 20% increase as compared to $50.0 million in the prior year quarter.

Free cash flow attributable to Iconix for the fourth quarter was approximately $62.9 million, a 66% increase as compared to the prior year quarter of approximately $37.9 million. On a non-GAAP basis, as defined in the tables below, net income attributable to Iconix was $30.2 million, a 5% increase as compared to the prior year quarter of approximately $28.9 million.

Non-GAAP diluted EPS for the fourth quarter of 2013 increased 32% to $0.54 compared to $0.41 in the prior year quarter. GAAP net income attributable to Iconix for the fourth quarter of 2013 was approximately $26.1 million compared to $26.1 million in the prior year quarter and GAAP diluted EPS for the fourth quarter of 2013 increased 19% to $0.44 compared to $0.37 in the prior year quarter.

Full Year 2013 Results for Iconix Brand Group, Inc.:

Total revenue for the full year 2013 was approximately $432.6 million, a 22% increase as compared to approximately $353.8 million for the prior year. EBITDA attributable to Iconix for 2013 was approximately $262.9 million, a 21% increase as compared to approximately $217.0 million in the prior year.

Free cash flow attributable to Iconix for 2013 was approximately $229.9 million, a 27% increase over the prior year of approximately $180.5 million. On a non-GAAP basis, as defined in the tables below, net income attributable to Iconix for 2013 was approximately $142.2 million, a 17% increase as compared to approximately $122.0 million in the prior year, and non-GAAP diluted earnings per share increased 41% to $2.39 versus $1.70 for the prior year.

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