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Iconix Brand Group Q1 adjusted earnings Miss Estimates

Iconix Brand Group (ICON) announced a profit for its first quarter that advanced from the same period last year.

The company's bottom line came in at $32.72 million, or $0.51 per share. This compares with $4.40 million, or $0.06 per share, in last year's first quarter.

Excluding items, Iconix Brand Group reported adjusted earnings of $5.69 million or $0.10 per share for the period.

Analysts had expected the company to earn $0.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 17.3% to $48.55 million from $58.72 million last year.

Iconix Brand Group earnings at a glance:

-Earnings (Q1): $5.69 Mln. vs. $12.35 Mln. last year.
-EPS (Q1): $0.10 vs. $0.21 last year.
-Analysts Estimate: $0.12
-Revenue (Q1): $48.55 Mln vs. $58.72 Mln last year.

Full year revenue guidance: $190 - $220 Mln

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