Iconix Brand Q2 licensing profits rise 62% to $4.3mn
05 Aug '05
3 min read
Six-Month Results: For the six months ended June 30, 2005 licensing and commission income increased 70 percent to approximately $8.6 million compared to approximately $5.1 million in the comparable period for the prior year. Fully diluted earnings per share were $0.11 cents, inclusive of a non-cash tax benefit of $0.06 cents, compared to $0.02 cents in the comparable period for the prior year.
Net income for the six months increased to approximately $3.3 million, including a non-cash tax benefit of approximately $1.8 million as compared to approximately $0.6 million in the six month period last year. 2005 EPS Guidance:
Following the acquisition of the Joe Boxer brand on July 22, 2005, the Company will be updating its full year guidance to a range of $0.32 to $0.35 cents per share inclusive of a projected non-cash tax benefit of $0.15 to $0.17 cents.
This compares to the Company's previous guidance range of $0.25 to $0.30 cents a share. The updated guidance and recent Joe Boxer acquisition will be discussed further during the Company's second quarter earnings conference call scheduled for 10:00 AM this morning.
Iconix Brand Group Inc is engage in the business of licensing the CANDIE'S, BONGO, BADGLEY MISCHKA and JOE BOXER 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.
marketing@alchempro.com
