Home / Knowledge / News / Textiles / Iconix posts Q4 2017 licensing revenue at $52.3 million
Iconix posts Q4 2017 licensing revenue at $52.3 million
19
Mar '18
Courtesy: Iconix Brand
Courtesy: Iconix Brand
Iconix, an American brand management company, has posted fourth quarter licensing revenue at $52.3 million, an 11 per cent decline as compared to $58.8 million in the prior year quarter. For the full year 2017 ended December 31, 2017, licensing revenue was registered at $225.8 million, an 11 per cent decrease as compared to $255.1 million in 2016.

Operating loss for the fourth quarter of 2017 was $18.3 million, as compared to a loss of $388.2 million in the fourth quarter of 2016. Operating loss for the full year 2017 was $564.7 million, as compared to a loss of $272.8 million in 2016.

Interest expense in the fourth quarter of 2017 was $21.8 million, as compared to interest expense of $17.2 million in the fourth quarter of 2016. The company's reported interest expense includes non-cash interest related to its outstanding convertible notes of approximately $4.6 million in the fourth quarter of 2017 and approximately $4.1 million in the fourth quarter of 2016.

Interest expense for the full year 2017 was approximately $67.9 million, as compared to interest expense of $76.9 million in 2016. The company's reported interest expense includes non-cash interest related to its outstanding convertible notes of $16.9 million in 2017 and $22.4 million in 2016.

Total SG&A expenses in the fourth quarter of 2017 were $40.9 million, an 11 per cent increase compared to $36.8 million in the fourth quarter of 2016. For the full year 2017, total SG&A expenses were $114.6 million, an 11 per cent decrease as compared to $128.8 million in 2016.

"2017 continued to be a year of change as we refinanced our balance sheet and refined our business model. Importantly, we enter 2018 better positioned to leverage our brand portfolio anchored on our strategic focus to actively manage brands with our existing partners, while exploring new opportunities to expand our reach. The launch of Starter with Amazon in 2017 and our recently announced multiyear agreement with Target for the Umbro brand demonstrates our ability to position our brands with the right long-term partners to maximize market presence and contribution to Iconix," said John Haugh, CEO of Iconix.

"With our near-term debt obligations satisfied today, we are now able to apply renewed attention to our business initiatives and lay the foundation for sustained, organic growth," Haugh added.

For 2018, the company expects revenue to be around $190-$220 million. The net income on GAAP basis is expected to be $7-$17 million, and $20-$30 million on a non-GAAP basis. The full year cash flow will be approximately $50-$70 million. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

UK Govt, fashion retailers sign agreement to fight slavery

Fashion | On 17th Nov 2018

UK Govt, fashion retailers sign agreement to fight slavery

John Lewis, M&S, New Look, NEXT, River Island and Shop Direct...

CNTAC delegation from China visits Pakistan

Textiles | On 17th Nov 2018

CNTAC delegation from China visits Pakistan

Chinese investors have expressed a desire to enter into joint...

Odisha to set up three textile parks

Textiles | On 17th Nov 2018

Odisha to set up three textile parks

Around 17 firms have expressed interest to invest to the tune of ₹589 ...

Interviews View All

Vasanth Kumar, Max Fashion India

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Ajay Ghariwala, Luthra Group

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Deepprakash Agrawal,

Deepprakash Agrawal

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

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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


November 2018

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

news category


Related Categories:

Advanced Search