United States Of America : Iconix Brand Group posts turnaround in Q3

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Home / Knowledge / News / Apparel/Garments / Iconix Brand Group posts turnaround in Q3

Iconix Brand Group posts turnaround in Q3

11
Nov '16

For the three months ended September 30, 2016, GAAP net income at Iconix Brand Group recorded a turnaround at $15.2 million as compared to a net loss of $5.4 million in the third quarter of 2015. GAAP diluted EPS amounted to $0.27 in the third quarter of 2016 as against a loss per share of $0.11 in the corresponding quarter of the previous year.

Licensing revenue for the reporting quarter stood at $90.9 million, flat vis-à-vis licensing revenue in the prior year's same quarter.

According to the company, revenue in the earlier year's third quarter included around $1.2 million of licensing revenue from the Badgley Mischka brand.

“However, the quarter under review benefitted from a $1.6 million favourable impact from foreign currency exchange rates primarily related to the Japanese currency.” It observed.

In the third quarter of the current year, operating income totalled $40.7 million, up a steep 46 per cent versus $27.8 million in the same quarter of last year. (AR)

Fibre2Fashion News Desk – India

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