Iconix sees 5% boost in 2Q revenues
NEW YORK — Iconix Brand Group reported that total revenue for the second quarter of 2012 was approximately $93.6 million, a 5% increase as compared with approximately $89.3 million in the second quarter of 2011.
The company reported net income on a non-GAAP basis of $32.4 million, as compared with approximately $32.3 million the prior year quarter. Non-GAAP diluted EPS for the second quarter was 45 cents compared with 43 cents in the prior year quarter.
Neil Cole, chairman and CEO of Iconix Brand Group Inc. commented, "We are pleased with our overall performance in the second quarter. Our strategy of building our brands globally is gaining momentum with the launch of our India joint venture with Reliance and our first two direct-to-retail licenses in Europe. Looking ahead, we see continued opportunities to grow the portfolio both in the U.S. and around the world. In addition, with our significant free cash flow and strong balance sheet we plan to continue to deliver increased shareholder value through acquisitions and share repurchase."
The company is reaffirming its full year 2012 revenue guidance of $340 to $350 million, its 2012 non-GAAP diluted EPS guidance of $1.65 to $1.74, its 2012 GAAP diluted EPS guidance of $1.48 to $1.57, and its 2012 free cash flow guidance of $174 to $181 million.