Iconix Brand's Q3 licensing revenue down 3%

The licensing revenue for Q3 2015 stands at approximately $88.9 million at Iconix Brands against approximately $91.6 million in the corresponding quarter of the previous year.

The company recorded a fall of 89 per cent in its net income for the third quarter of 2015 on a non-GAAP basis, making it stand at approximately $4.4 million for the quarter as compared to the figure of approximately $38.0 million in Q3 2014.

On a GAAP basis, Iconix recorded a loss of approximately $6.3 million against an income of $33.7 million in the third quarter of 2014. GAAP diluted EPS for the quarter recorded a loss of $0.13 against a loss of $0.58 for the corresponding quarter of the previous year.

Commenting on the results, Peter Cuneo, chairman and interim CEO of the company said, “I would like to reiterate that the underlying fundamentals of our business are strong. We have gone through a difficult transition period, but Iconix continues to have significant business strengths including its diversified portfolio of consumer brands, profitable business model and strong free cash flow generation.”

“All of us at the company are focused on capitalising on these strengths and addressing the issues that have impacted more recent performance to improve our results and enhance value for shareholders,” he said. (MCJ)

Fibre2Fashion News Desk — India