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
Computer and printer maker Hewlett-Packard Co. said Thursday after the markets closed that its second quarter profit fell 21% from last year, hurt by lower revenue and costs related to the planned separation of the company. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Accounting software maker Intuit reported a plunge in third-quarter profit, hurt by impairment charges, even as results topped Wall Street estimates, driven by growth in small business segment amid a strong tax season. Struggling teen-apparel retailer Aeropostale Inc. (ARO), Thursday said its first-quarter loss narrowed from a year ago, driven largely by stronger margins even as revenues continued to plunge dropped. Nevertheless, the company lost almost one-fifth of its market value in after-hours trade, with the...
comments powered by Disqus
Follow RTT