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Iconix Brand Q2 licensing profits rise 62% to $4.3mn
05 Aug '05
3 min read
Six-Month Results:
For the six months ended June 30, 2005 licensing and commission income increased 70 percent to approximately $8.6 million compared to approximately $5.1 million in the comparable period for the prior year. Fully diluted earnings per share were $0.11 cents, inclusive of a non-cash tax benefit of $0.06 cents, compared to $0.02 cents in the comparable period for the prior year.
Net income for the six months increased to approximately $3.3 million, including a non-cash tax benefit of approximately $1.8 million as compared to approximately $0.6 million in the six month period last year.
2005 EPS Guidance:
Following the acquisition of the Joe Boxer brand on July 22, 2005, the Company will be updating its full year guidance to a range of $0.32 to $0.35 cents per share inclusive of a projected non-cash tax benefit of $0.15 to $0.17 cents.
This compares to the Company's previous guidance range of $0.25 to $0.30 cents a share. The updated guidance and recent Joe Boxer acquisition will be discussed further during the Company's second quarter earnings conference call scheduled for 10:00 AM this morning.
Iconix Brand Group Inc is engage in the business of licensing the CANDIE'S, BONGO, BADGLEY MISCHKA and JOE BOXER trademarks on a variety of apparel and fashion products. Through its wholly owned subsidiary, Brightstar Footwear Inc, the Company also arranges for the manufacture of footwear products for mass market retailers.
For the six months ended June 30, 2005 licensing and commission income increased 70 percent to approximately $8.6 million compared to approximately $5.1 million in the comparable period for the prior year. Fully diluted earnings per share were $0.11 cents, inclusive of a non-cash tax benefit of $0.06 cents, compared to $0.02 cents in the comparable period for the prior year.
Net income for the six months increased to approximately $3.3 million, including a non-cash tax benefit of approximately $1.8 million as compared to approximately $0.6 million in the six month period last year.
2005 EPS Guidance:
Following the acquisition of the Joe Boxer brand on July 22, 2005, the Company will be updating its full year guidance to a range of $0.32 to $0.35 cents per share inclusive of a projected non-cash tax benefit of $0.15 to $0.17 cents.
This compares to the Company's previous guidance range of $0.25 to $0.30 cents a share. The updated guidance and recent Joe Boxer acquisition will be discussed further during the Company's second quarter earnings conference call scheduled for 10:00 AM this morning.
Iconix Brand Group Inc is engage in the business of licensing the CANDIE'S, BONGO, BADGLEY MISCHKA and JOE BOXER trademarks on a variety of apparel and fashion products. Through its wholly owned subsidiary, Brightstar Footwear Inc, the Company also arranges for the manufacture of footwear products for mass market retailers.
Iconix Brand Group Inc
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