Iconix Brand CEO pleased with Q3 results

31 Oct '07

3 min read

Iconix Brand Group Inc announced financial results for the third quarter and nine months ended September 30, 2007.

Q3 2007 results:
Licensing revenue for the third quarter of 2007 increased 93% to approximately $42.7 million, as compared to approximately $22.1 million in the third quarter of 2006. EBITDA for the third quarter increased 92% to approximately $30.8 million, as compared to approximately $16.1 million in the prior year quarter and free cash flow for the quarter increased 106% to approximately $27.4 million, as compared to approximately $13.3 million in the prior year quarter.

Net income for the third quarter increased 114% to approximately $17.0 million versus approximately $7.9 million in the prior year quarter and fully diluted earnings per share increased to approximately $0.28 versus $0.18 in the prior year quarter. EBITDA and free cash flow are non-GAAP measures and reconciliation tables for both are attached to this press release.

Nine months ended September 30, 2007 results:
Licensing revenue for the nine months ended September 30, 2007 increased 109% to approximately $112.6 million, as compared to approximately $53.8 million in the prior year nine month period. EBITDA for the nine month period increased 138% to approximately $85.4 million, as compared to approximately $35.9 million in the prior year nine month period, and free cash flow increased 160% to approximately $74.5 million, as compared to approximately $28.7 million in the prior year nine month period.

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