logo
Share SHARE
FONT-SIZE Plus   Neg

Iconix Brand Q1 Profit Slips

Iconix Brand Group Inc. (ICON) Wednesday reported a decrease in profit for the first quarter, due mainly to lower revenues.

The New York-based company's attributable profit dropped to $27.60 million or $0.37 per share from $31.43 million or $0.42 per share last year.

Adjusted net income for the quarter dropped to $31.94 million or $0.43 per share from $33.74 million or $0.45 per share in the prior-year quarter. On average, six analysts polled by Thomson Reuters expected the company to earn $0.46 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter declined 4 percent to $88.45 million from $92.36 million in the prior-year quarter. Five analysts had a consensus revenue estimate of $94.70 million for the quarter.

Moving ahead, the company lowered its earnings guidance for the full-year 2012 to a range of $1.48 to $1.57 per share from previous estimate of $1.62 to $1.69 per share. The company also slashed down its adjusted earnings guidance to a range of $1.65 to $1.74 per share, compared to prior estimate of $1.77 to $1.84 per share. Analysts currently expect earnings of $1.80 per share for the year.

Iconix now expects revenues for 2012 in the range of $340 million to $350 million compared to previous estimate of $370 million to $385 million. Analysts currently expect revenues of $379.07 million for the year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The Federal Communications Commission or FCC will not take any action against CBS Corp.'s "Late Show with Stephen Colbert" despite receiving thousands of complaints about the talk show comedian's controversial joke about President Donald Trump. The U.S. government filed a civil lawsuit on Tuesday against Fiat Chrysler Automobiles, accusing the automaker of installing software in more than 100,000 diesel vehicles to cheat emission controls. The lawsuit alleges that Fiat Chrysler equipped nearly 104,000 light duty diesel vehicles containing 3.0 liter EcoDiesel engines with software functions that were not disclosed to regulators. A college degree is a necessity for a rewarding, well-paying job with possibility for career advancement and also for entry into most professional careers. On average, college graduates earn much more than high school graduates throughout their lifetime. In addition to the earnings potential, students...
comments powered by Disqus
Follow RTT