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Iconix Brand Group posts turnaround in Q3
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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