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Iconix Brand Group Q1 licensing revenues down 1 percent

By Prachi Singh

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Business |REPORT

Iconix Brand Group for the first quarter ended March 31, 2016 reported licensing revenue of approximately 94.6 million dollars, a 1 percent decline as compared to approximately 95.8 million dollars in the first quarter of 2015.

“I am pleased with our results today and that we remain on track to achieve the guidance that the company provided last quarter,” said John Haugh, CEO of Iconix Brand Group, adding, “It is clear to me that with a diversified portfolio of over 30 brands, and over 1,700 licenses worldwide, Iconix is well positioned as the industry leader to further leverage and monetize our brands and our global licensing platform.”

First quarter financial results in detail

Licensing revenue included approximately 1.3 million dollars of revenue related to acquisitions for which there was no comparable revenue in the first quarter of 2015, and was negatively impacted by approximately one million dollars due to the sale of the Badgley Mischka brand in the first quarter of 2016.

Operating income was approximately 54.2 million dollars including the 11 million dollars gain on sales of trademarks, a 3 percent decline as compared to approximately 56 million dollars in the first quarter of 2015. Excluding special charges, operating income grew 6 percent to approximately 59.7 million dollars.

GAAP net income was approximately 18.6 million dollars as compared to approximately 65.4 million dollars in the first quarter of 2015. GAAP diluted EPS was approximately 0.37 dollar as compared to 1.26 dollars in the first quarter of 2015. Non-GAAP net income was approximately 26.9 million dollars flat as compared to 26.9 million dollars in the first quarter of 2015. Non-GAAP diluted EPS was approximately 0.53 dollar as compared to 0.54 dollar in the first quarter of 2015.

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Iconix Brand Group