Iconix Group revenues increase 11 percent in Q1

REPORT_ Total revenues for the first quarter of 2014 were about 116.1 million dollars,

an 11 percent increase compared to approximately 105.1 million dollars in the first quarter of 2013. EBITDA attributable to Iconix for the first quarter was approximately 69.8 million dollars, an 8 percent increase as compared to 64.6 million dollars in the prior year quarter.

On a non-GAAP basis, net income attributable to Iconix was 39.3 million dollars, an 8 percent increase as compared to the prior year quarter of approximately 36.2 million dollars. Non-GAAP diluted EPS for the first quarter of 2014 increased 33 percent to 0.72 dollars compared to 0.54 dollars in the prior year quarter. GAAP net income attributable to Iconix for the first quarter of 2014 was approximately 59.8 million dollars, a 75 percent increase as compared to 34.2 million dollars in the prior year quarter, and GAAP diluted EPS for the first quarter of 2014 increased approximately 101 percent to 1.03 dollars compared to 0.51 dollars in the prior year quarter.

Commenting on the results, Neil Cole, Chairman and CEO of Iconix Brand Group, said, “With record results in the first quarter, 2014 is off to a strong start. Through our diversified portfolio of brands and expanding global footprint we continued to achieve strong growth.”

The company headquartered in New York is raising its 2014 guidance with revenues in 2014 expected to increase to 450-460 million dollars from 440-455 million dollars and non-GAAP diluted EPS guidance to 2.55 dollars-2.65 dollars from 2.50 dollars-2.60 dollars. On GAAP basis diluted EPS is expected to increase to 2.50 dollars-2.60 dollars.