Home / Knowledge / News / Apparel/Garments / Q2 licensing revenue at Iconix Brand up just 1%
Q2 licensing revenue at Iconix Brand up just 1%
13
Aug '15
For the second quarter ended June 30, 2015, licensing revenue at US based apparel marketer Iconix Brand Group went up marginally by 1 per cent year over year.

“Licensing revenue for the second quarter of 2015 was $98.5 million, a 1 per cent increase as compared to $97.5 million in the second quarter of 2014,” it said in a press release.

Total licensing revenue was negatively affected by $3.7 million due to foreign exchange rates, while excluding the effect of foreign exchange rates, licensing revenue rose 5 per cent.

“There was no other revenue in the reporting quarter, as compared to $21.4 million of other revenue recorded in the prior year second quarter,” Iconix explained.

As a result of which, adjusted EBITDA attributable to Iconix for the second quarter of 2015 was $51.2 million, down 34 per cent as compared to approximately $78.2 million in the same quarter of last year.

On a non-GAAP basis, net income attributable to Iconix totaled $22.3 million, down a steep 44 per cent as against $39.6 million in the second quarter of prior year.

Non-GAAP diluted EPS for the second quarter of 2015 was $0.45, a decline of 40 per cent as compared to $0.75 in the same quarter of previous year.

Free cash flow attributable to Iconix for the second quarter of 2015 was $75.4 million, a massive increase of 117 per cent year over year.

“Free cash flow for the second quarter of 2015 includes a $15.5 million tax refund and additionally benefited from the timing of $11.4 million of tax withholding payments that will be paid in the third quarter,” it explained.

Interim CEO Peter Cuneo said, "In looking at the results, I believe the most important take-away is that Iconix' core underlying licensing business remains healthy and continues to generate significant free cash flow.”

“I am genuinely optimistic about the future of our Company and believe that Iconix has significant strengths upon which to build, including its global portfolio of over 35 diversified consumer brands,” he too added.

“I believe the Company is well positioned to resume its growth trajectory both organically and through new acquisitions," Cuneo informed.

For the full year of 2015, the Company now expects licensing revenue to achieve low single digit growth, and to be in a range of $410-425 million.

The Company will continue to look for strategic opportunities and is forecasting approximately $5-15 million of other revenue in 2015. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 19th Feb 2020

CLMV nations urged to export goods items to Japan

Cambodia, Laos, Myanmar and Vietnam (CLMV) were recently encouraged...

Pic: Shutterstock

Apparel/Garments | On 19th Feb 2020

Dhaka to explore European markets for leather goods export

The Bangladesh government would explore markets in Europe for...

Pic: Shutterstock

Textiles | On 19th Feb 2020

Eswatini’s exports decline in January 2020

Exports in Eswatini declined in January by 22.5 per cent to 2.078...

Interviews View All

Yash Maniyar, Rekha Maniyar

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Textile Industry, Head honchos

Textile Industry
Head honchos

African fashion has a strong identity

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Davide Maccabruni,

Davide Maccabruni

Schärer Schweiter Mettler (SSM) manufactures and supplies textile...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

Leave your Comments


February 2020

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


Advanced Search