Business news :Iconix's Q4 Earnings Show Modest Decline

Iconix Brand Group reported total revenue for the fourth quarter of 2012 was approximately $85.1 million, as compared to approximately $95.5 million in the fourth quarter of 2011. EBITDA attributable to Iconix for the fourth quarter was approximately $50.0 million, as compared to approximately $57.3 million in the prior year quarter.

Free cash flow attributable to Iconix for the fourth quarter was approximately $37.9 million, as compared to approximately $41.9 million in the prior year quarter. On a non-GAAP basis, as defined in the tables below, net income attributable to Iconix for the fourth quarter was approximately $28.9 million, as compared to approximately $31.3 million in the prior year quarter. Non-GAAP diluted EPS for the fourth quarter was $0.41 compared to $0.41 in the prior year quarter. GAAP net income attributable to Iconix for the fourth quarter was approximately $26.1 million, as compared to approximately $27.2 million in the prior year quarter and GAAP diluted EPS was $0.37 compared to $0.36 in the prior year quarter.

Full Year 2012 results for Iconix Brand Group, Inc.:
Total revenue for the full year 2012 was approximately $353.8 million, as compared to approximately $369.8 million for the prior year. EBITDA attributable to Iconix for 2012 was approximately $217.0 million as compared to approximately $229.6 million in the prior year. Free cash flow attributable to Iconix for 2012 was approximately $180.5 million as compared to $179.2 million for the prior year. On a non-GAAP basis, as defined in the tables below, net income attributable to Iconix for 2012 was approximately $122.0 million as compared to approximately $127.4 million in the prior year and non-GAAP diluted earnings per share for 2012 was approximately $1.70 versus $1.69 for the prior year. On a GAAP basis, net income attributable to Iconix for 2012 was approximately $109.4 million as compared to $126.1 million in the prior year and GAAP diluted earnings per share was $1.52 versus $1.67 for the prior year.

EBITDA, free cash flow, non-GAAP net income and non-GAAP EPS are all non-GAAP metrics and reconciliation tables to the respective GAAP measures are attached to this press release.

Neil Cole, Chairman and CEO of Iconix Brand Group, Inc. commented, "Over the past year we have executed on several exciting initiatives that position our company for significant growth. We acquired three iconic brands, continued to expand our global footprint, signed a Peanuts movie deal and launched a new $1.1 billion securitization facility. Looking to 2013 and beyond, with our powerful portfolio of over 30 brands that are well diversified across numerous industries and geographies along with our strong balance sheet and financial flexibility, we look forward to delivering continued growth and value to our shareholders."

2013 Guidance for Iconix Brand Group, Inc.:
To reflect the Company's acquisition of Lee Cooper, the Company is raising its 2013 guidance as follows:

• The Company is raising its revenue guidance to $425-$435 million from $415-$425 million
• The Company is raising its non-GAAP diluted EPS guidance to $2.05-$2.15 from $2.00-$2.10
• The Company is raising its 2013 GAAP diluted EPS guidance to $1.95-$2.05 from  $1.90-$2.00
• The Company is raising its 2013 free cash flow guidance to $203-$210 million from $196-$203 million.
• This guidance relates to the Company's existing portfolio of brands and does not include any additional acquisitions.

Other Company News
The Company announced today that it acquired the Lee Cooper brand. Lee Cooper is an iconic global lifestyle brand with over a 100-year heritage. See separate press release for additional details.

The Company also announced today that its Board of Directors has authorized a program to repurchase up to $300 million of its common stock.

Iconix Brand Group, Inc. owns, licenses and markets a growing portfolio of consumer brands including: Candie's (R), Bongo (R), Badgley Mischka (R), Joe Boxer (R), Rampage (R), Mudd (R), Mossimo (R), London Fog (R), Ocean Pacific (R), Danskin (R), Rocawear (R), Cannon (R), Royal Velvet (R), Fieldcrest (R), Charisma (R), Starter (R), Waverly (R), Zoo York (R), Ed Hardy (R), Sharper Image (R), Umbro (R) And Lee Cooper (R).  In Addition, Iconix Owns Interests In The Artful Dodger (R), Ecko (R), Marc Ecko (R), Material Girl (R), Peanuts (R), Truth Or Dare (R), Billionaire Boys Club (R), Ice Cream (R), Modern Amusement (R), And Buffalo (R) Brands.