Home / Knowledge / News / Apparel/Garments / Record third quarter for Iconix Brand
Record third quarter for Iconix Brand
01
Nov '10
Iconix Brand Group, Inc., announced financial results for the third quarter ended September 30, 2010.

Q3 2010 results for Iconix Brand Group, Inc:
Total revenue for the third quarter of 2010 was approximately $96.9 million, a 63% increase as compared to approximately $59.4 million for the third quarter of 2009. EBITDA attributable to Iconix for the third quarter was approximately $52.1 million, a 21% increase as compared to the prior year quarter. Free cash flow for the quarter was approximately $36.7 million.

On a non-GAAP basis, which excludes non-cash interest related to the Company's convertible debt, net income attributable to Iconix increased 32% to approximately $29.8 million and diluted earnings per share, or EPS, for the third quarter of 2010 was $0.40 versus $0.31 for the prior year quarter.

On a GAAP basis, net income attributable to Iconix increased 34% to approximately $27.4 million as compared to the prior year quarter and GAAP diluted EPS for the third quarter of 2010 was $0.37 versus $0.28 for the prior year quarter. Third quarter 2010 financials include approximately $12.5 million of revenue or approximately $0.02 of diluted EPS related to the new contract the Company signed with ABC for the Peanuts specials.

Nine months ended September 30, 2010
Total revenue for the nine months ended September 30, 2010 was approximately $244.6 million, a 47% increase as compared to approximately $166.3 million for the prior year period. EBITDA attributable to Iconix for the nine month period was approximately $150.9 million, a 25% increase as compared to the prior year period, and free cash flow was approximately $121.1 million, a 19% increase as compared to the prior year period.

On a non-GAAP basis, as defined above, net income attributable to Iconix for the nine month period increased 36% to approximately $83.3 million as compared to the prior year period and non-GAAP diluted earnings per share increased to $1.12 versus $0.93 for the prior year period. On a GAAP basis, net income attributable to Iconix increased 39% to approximately $76.7 million as compared to the prior year period and GAAP diluted earnings per share was $1.03 versus $0.83 for the prior year period.

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

Neil Cole, Chairman and CEO of Iconix Brand Group, Inc. commented, "2010, thus far has been an exciting year for our Company as we delivered another record quarter in terms of both revenue and earnings to our shareholders. With 27 brands today that represent approximately $12 billion in annual global retail sales, we are the second largest consumer products licensing company in the world, and we remain committed to expanding and growing our portfolio of iconic brands through new categories, geographies and distributions. As we look ahead to 2011, we feel confident about the overall strength of our existing brand portfolio and our ability to acquire world class brands."

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search