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Licensing revenue up at Iconix Brand Q3

02 Nov '06

3 min read

Iconix Brand Group Inc announced financial results for the third quarter and nine months ended September 30, 2006.

Licensing revenue for the quarter increased to approximately $22.1 million, as compared to $9.2 million in the third quarter of last year. The Company reported fully diluted earnings per share of $0.18 for the quarter versus $0.14 for the prior year quarter.

The current quarter was the Company's first fully taxed quarter as a brand management business, as compared to its third quarter earnings per share of $0.14 in the third quarter of last year, which was inclusive of a net non-cash tax benefit of approximately $0.04 per share.

Pre-tax income for the 2006 quarter was approximately $12.2 million versus approximately $3.8 million in the prior year quarter. Fully-taxed net income for the 2006 quarter was approximately $7.9 million versus $5.2 million in the third quarter of last year which included a $1.4 million net non cash tax benefit.

EBITDA for the 2006 quarter was approximately $16.0 million versus approximately $5.3 million last year and free cash flow for the 2006 quarter was approximately $13.3 million versus approximately $4.1 million last year.

Nine months ended September 30, 2006: For the nine months ended September 30, 2006 licensing revenue was approximately $53.8 million compared to approximately $17.8 million in the prior year nine month period. Fully diluted earnings per share were $0.54 for the 2006 period versus $0.26 in the prior year nine month period and net income was approximately $23.6 million versus approximately $8.5 million in the prior year nine month period.

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