Iconix Group revenues increase 7 percent in H1

REPORT_ Total revenues of the Iconic Group, for the six months ended June 30, 2014 were

approximately 235.1 million dollars, a 7 percent increase as compared to approximately 220.2 million dollars for the prior year period. EBITDA attributable to Iconix for the six month period was approximately 147.9 million dollars, an 8 percent increase as compared to approximately 137.2 million dollars in the prior year period.

Revenues for the second quarter ended June 30, 2014 were approximately 118.9 million dollars, a 3 percent increase as compared to approximately 115.1 million dollars in the second quarter of 2013. EBITDA attributable to Iconix for the second quarter was approximately 78.2 million dollars, an 8 percent increase as compared to 72.7 million 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 second quarter, we continue to demonstrate the power of our business model with our diversified revenue stream and strong free cash flow. As we look to the future we believe we can continue to deliver significant growth and increased value for our Company and shareholders through our global expansion plans, worldwide Peanuts business and additional acquisitions of global iconic brands.”

On a non-GAAP basis, net income attributable to Iconix was 39.6 million dollars, as compared to the prior year quarter of approximately 42.7 million dollars. Non-GAAP diluted EPS for the second quarter of 2014 increased 4 percent to 0.75 dollars compared to 0.72 dollars in the prior year quarter. GAAP net income attributable to Iconix for the second quarter of 2014 was approximately 35.3 million dollars, as compared to 38.7 million dollars in the prior year quarter, and GAAP diluted EPS for the second quarter of 2014 was 0.60 dollars compared to 0.66 dollars in the prior year quarter.

On a non-GAAP basis, net income attributable to Iconix for the six month period was approximately 78.9 million dollars, compared to approximately 78.9 million dollars in the prior year period, and non-GAAP diluted earnings per share was approximately 1.49 dollars for the six month period, a 19 percent increase versus 1.25 dollars for the prior year period. GAAP net income attributable to Iconix for the six month period of 2014 was approximately 95.1 million dollars, a 30 percent increase as compared to 72.9 million dollars in the prior year period and GAAP diluted EPS for the six month period of 2014 increased 41 percent to 1.63 dollars compared to 1.16 dollars in the prior year period.

Company is raising its revenue guidance for the year 2014 to 455-465 million dollars from 450-460 million dollars. Non-GAAP diluted EPS guidance has been raised to 2.60-2.70 dollars from 2.55-2.65 dollars, while maintaining GAAP diluted EPS guidance of 2.50 dollars-2.60 dollars.