Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Fashion / Iconix Brand achieves record revenue this quarter
Iconix Brand achieves record revenue this quarter
06
Aug '09
Iconix Brand Group Inc announced financial results for the second quarter ended June 30, 2009.

Q2 2009 results:
Revenue for the second quarter of 2009 was approximately $56.4 million, a 9% increase as compared to approximately $51.7 million in the second quarter of 2008. EBITDA for the second quarter was approximately $41.8 million, a 19% increase as compared to approximately $35.2 million in the prior year quarter. Free cash flow for the quarter was $35.1 million a 34% increase as compared to approximately $26.3 million in the prior year quarter.

On a non-GAAP basis, which excludes non-cash interest related to the adoption of the new accounting treatment for convertible debt, net income increased 29% to approximately $21.3 million, as compared to $16.5 million in the prior year quarter and diluted earnings per share for the second quarter of 2009 was $0.33 versus $0.27 in the prior year quarter. On a GAAP basis, net income increased 32% to approximately $19.3 million, as compared to $14.6 million in the prior year quarter and diluted earnings per share for the second quarter of 2009 was $0.30 versus $0.24 in the prior year quarter.

Six months ended June 30, 2009:
Revenue for the six months ended June 30, 2009 was $106.9 million as compared to approximately $107.4 million in the prior year six month period. EBITDA for the six month period increased 6% to approximately $78.2 million as compared to approximately $73.9 million in the comparable prior year period, and free cash flow increased 10% to approximately $64.9 million as compared to approximately $59.0 million in the comparable prior year period.

Non-GAAP net income as defined above for the 2009 six month period increased 12% to approximately $38.9 million as compared to approximately $34.7 million in the comparable prior year period and non-GAAP diluted earnings per share increased to $0.62 versus $0.57 in the comparable prior year period.

On a GAAP basis, net income increased 12% to approximately $34.9 million, as compared to $31.2 million in the comparable prior year period and diluted earnings per share for the six month period was $0.56 versus $0.51 in the comparable prior year period. EBITDA, free cash flow, non-GAAP net income and non-GAAP EPS are all non-GAAP metrics and reconciliation tables for each are attached to this press release.

Neil Cole, Chairman and CEO of Iconix Brand Group, Inc. commented, "I am pleased to announce that we achieved record revenue and earnings this quarter. We continued to grow market share for many of our brands with a substantial increase driven by the successful roll-out of our OP, Starter and DanskinNow brands at Walmart. Our strong performance in this challenging economic environment continues to demonstrate the power of our business model. Further, with a strong balance sheet and over $200 million of cash on hand, we believe that we are well positioned to execute against our acquisition strategy."


Must ReadView All

Courtesy: Asmara Group

Apparel/Garments | On 20th Sep 2018

Fragmented nature of Indian apparel sector major challenge

A major challenge for the Indian apparel sector is its fragmented...

Courtesy: Aditya Birla Retail

Apparel/Garments | On 20th Sep 2018

Indian Aditya Birla Retail to be acquired by Samara-Amazon

India’s Aditya Birla Group has signed a deal to sell Aditya Birla...

India's 2018-19 forward cotton export contract up by 100%

Textiles | On 20th Sep 2018

India's 2018-19 forward cotton export contract up by 100%

Rise in demand from China, lower domestic prices and depreciation of...

Interviews View All

Nishank Patel, Shri Dinesh Mills Limited

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Deepak Jain, Baggout

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Mukesh Agarwal & Rajesh Agarwal, Madhuram Fincap Pvt Ltd

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Deepprakash Agrawal,

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

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


September 2018

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

news category


Related Categories:

Advanced Search