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Iconix Brand Group Q1 EBITDA lifts 8%

May 01, 2014 (United States Of America)

Iconix Brand Group, Inc., announced financial results for the first quarter ended March 31, 2014.
 
Highlights: 
-Record Q1 revenue of $116.1 million, an 11% increase over prior year quarter
-Record Q1 non-GAAP diluted EPS of $0.72, a 33% increase over prior year quarter
-Record Q1 GAAP diluted EPS of $1.03, a 101% increase over prior year quarter
-Record Q1 free cash flow of $58.0 million, a 12% increase over prior year quarter
-Raising 2014 revenue guidance to $450-$460 million
-Raising 2014 non-GAAP diluted EPS guidance to $2.55-$2.65
 
Q1 2014 Results for Iconix Brand Group, Inc.: 
Total revenue for the first quarter of 2014 was approximately $116.1 million, an 11% increase as compared to approximately $105.1 million in the first quarter of 2013. 
 
EBITDA attributable to Iconix for the first quarter was approximately $69.8 million, an 8% increase as compared to $64.6 million in the prior year quarter. 
 
Free cash flow attributable to Iconix for the first quarter was approximately $58.0 million, a 12% increase as compared to the prior year quarter of approximately $51.8 million. On a non-GAAP basis, as described in the tables below, net income attributable to Iconix was $39.3 million, an 8% increase as compared to the prior year quarter of approximately $36.2 million. 
 
Non-GAAP diluted EPS for the first quarter of 2014 increased 33% to $0.72 compared to $0.54 in the prior year quarter. GAAP net income attributable to Iconix for the first quarter of 2014 was approximately $59.8 million, a 75% increase as compared to $34.2 million in the prior year quarter, and GAAP diluted EPS for the first quarter of 2014 increased approximately 101% to $1.03 compared to $0.51 in the prior year quarter.  
 
Neil Cole, Chairman and CEO of Iconix Brand Group, Inc. commented, "With record results in the first quarter, 2014 is off to a strong start. Through our diversified portfolio of brands and expanding global footprint we continued to achieve strong growth. As we look ahead, we believe we can continue to deliver significant value to our Company and shareholders through a combination of organic growth driven by international expansion and Peanuts initiatives, as well as, additional acquisitions of global iconic brands."
 
Click here to view full results.
 

Iconix Brand Group
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