EBITDA for the nine months ended September 30, 2006 was approximately $35.8 million compared to approximately $8.4 million in the prior year nine month period, and free cash flow was approximately $28.7 million compared to approximately $6.6 million in the prior year nine month period.
Neil Cole, Chairman and CEO of Iconix commented, "I am pleased with our third quarter financial results, especially with the strength of our core brands and their continued growth. Despite being impacted by the delay in closing the Mossimo merger and it being our first fully taxed quarter, we delivered substantial year-over-year increases, reinforcing the scalability and leverage of our business model."
"I am excited about adding the Mossimo and OP brands to our growing portfolio. With these two additions Iconix will own nine powerful brands all with strong potential for organic growth both in the U.S. and around the world."
2006 Guidance: Based primarily on the delay in closing the Mossimo acquisition the Company is updating its range of EPS guidance for 2006 to $0.70 - $0.73 per fully diluted share. Previous guidance was for EPS in a range of $0.70 to $0.80 cents per share.
2007 Guidance: The Company is issuing guidance for the full year 2007 of fully diluted and fully taxed earnings per share in a range of $0.87 - $0.92.
marketing@alchempro.com
