Iconix Brand reports rise over 160% in licensing & commission income in Q3

07 Nov '05

3 min read

For the nine months ended September 30, 2005 licensing and commission income increased over 100 percent to approximately $17.8 million compared to approximately $8.5 million in the comparable period for the prior year. Fully diluted earnings per share were $0.26 cents as compared to $0.04 cents in the prior year and net income for the nine months increased to approximately $8.5 million as compared to approximately $1.2 million in the prior year. Results for the nine months ended September 30, 2005 were inclusive of a non-cash tax benefit of approximately $3.2 million or $0.10 cents per fully diluted share.

The Company is updating its 2005 full year guidance to a range of $0.39 - $0.41 cents per share inclusive of a projected non-cash tax benefit of approximately $0.13 - $0.15 cents. This compares to the Company's previous guidance range of $0.33 to $0.35 cents a share.

The Company is revising preliminary projections for 2006 of earnings per share to a range of $0.65 to $0.70 cents. This compares to the Company's previous guidance range of $0.50 - $0.55 cents.

Iconix Brand Group Inc is in the business of licensing and marketing the CANDIE'S, BONGO, BADGLEY MISCHKA, JOE BOXER and RAMPAGE 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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