Increased earnings demonstrates strength of Iconix biz model

01 Oct '09

4 min read

Neil Cole, Chairman and CEO commented, "Despite today's downward revision we are proud with what we have accomplished this year and believe our continued ability to drive organic growth and increased earnings demonstrates the strength of our business model. We are still projecting approximately 5% organic growth across our portfolio of brands. We have completed the transition of the Rocawear women's license from a licensee experiencing financial difficulties to a new licensee with a proven track record and the Rocawear brand continues to perform well overall.

While we are disappointed that the strong performance of our brands has not been enough to completely offset the dilution from the equity offering and Rocawear women's transition, we believe our Company is well positioned for future growth. Further, we currently have over $230 million of cash on our balance sheet and have the ability to execute on possible future acquisitions, however, we will continue to remain disciplined when pursuing potential opportunities."

Iconix Brand Group Inc

More Iconix Brand Group Inc News... More Fashion News - United States Of America...