Iconix Brand Updates 2016 Revenue Guidance; SEC Comment Letter Process Completed

(RTTNews) - Iconix Brand Group, Inc. (ICON) announced, the company expects 2016 revenue to be $3 million to $5 million below its previously expected estimate, which was at the low end of its $370 million to $390 million guidance. This reflects delayed timing for some new men's programs, macro conditions in Europe, and some retail resets. The company continues to expect to achieve 2016 non-GAAP EPS in the range of $1.06 to $1.21, but is trending toward the low-end of the range.

The company expects to continue to generate significant free cash flow and is maintaining its 2016 free cash flow guidance of $169 million to $184 million.

Iconix Brand said, on November 4, it received a letter from the Staff of the U.S. Securities and Exchange Commission - Division of Corporate Finance, formally communicating that the Staff has completed its review of the company's Forms 10-K for the years ending December 31, 2013 through 2015.