Record third quarter for Iconix Brand

01 Nov '10

4 min read

2010 Guidance for Iconix Brand Group, Inc:
The Company is raising its full year 2010 revenue guidance to $323-$328 million from $305-$315 million, its 2010 non-GAAP diluted EPS guidance to $1.38-$1.42 from $1.35-$1.40, and its GAAP diluted EPS guidance to $1.26-$1.30 from $1.23-$1.28. The Company expects to continue to generate strong free cash flow for 2010 of approximately $150- $155 million. This guidance relates to the existing portfolio of brands only and does not include any additional acquisitions.

The 2010 revenue revision is primarily related to the ABC contract in addition to the Company's positive performance in the third quarter. The 2010 earnings revision is primarily related to the Company's strong third quarter results, as the EPS benefit this quarter from the ABC contract will be offset on a full year basis as a result of estimated Peanuts restructuring costs to be incurred in the fourth quarter of 2010.

2011 Guidance for Iconix Brand Group, Inc:
The Company is providing 2011 revenue guidance of $340-350 million, 2011 non-GAAP diluted EPS guidance of $1.53-$1.58 and GAAP diluted EPS guidance of $1.40-$1.45. The Company estimates that free cash flow for 2011 will be approximately $160-165 million. This guidance relates to the existing portfolio of brands only and does not include any additional acquisitions.

Iconix Brand Group Inc

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