Iconix Brand Q2 Profit Decreases; Licensing Revenue Up 1% - Quick Facts

(RTTNews) - Iconix Brand Group, Inc. (ICON) reported second quarter net income attributable to company of approximately $14.8 million, a 58% decrease as compared to $35.3 million in the prior year quarter, and EPS decreased to $0.30 from $0.60. On a non-GAAP basis, net income attributable to Iconix was approximately $22.3 million, or $0.45 per share.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.70 for the quarter. Analysts' estimates typically exclude special items.

Licensing revenue was approximately $98.5 million, a 1% increase as compared to approximately $97.5 million in the second quarter of 2014. Excluding the effect of foreign exchange rates, licensing revenue increased 5%. Analysts expected revenue of $112.97 million for the quarter.

The company noted that there was no Other revenue in the second quarter of 2015, as compared to approximately $21.4 million of other revenue recorded in the second quarter of 2014 related to the sale of the Sharper Image e-commerce business and a transaction related to Southeast Asia joint venture. The company said, due in large part to there being no other revenue in the quarter, all metrics decreased.

For the full year 2015, the company expects licensing revenue to achieve low single digit growth, and to be in a range of $410 - $425 million. The company forecasts approximately $5 - $15 million of Other revenue in 2015. The company revised its 2015 non-GAAP EPS guidance to a range of $2.00 - $2.15, and its 2015 GAAP EPS to a range of $2.24 - $2.39. Analysts expect the company to report earnings per share of $3.00.