Business news : Iconix's Brand's Q1 Sales Rise 19 Percent

Iconix Brand Group reported  Q1 revenue of $105.1 million, a 19 percent increase over prior year quarter.

EBITDA attributable to Iconix for the first quarter was approximately $64.6 million, a 14 percent increase as compared to $56.8 million in the prior year quarter. Free cash flow attributable to Iconix for the first quarter was approximately $51.8 million, a 9 percent increase as compared to the prior year quarter of approximately $47.4 million.

On a non-GAAP basis, as described in the tables below, net income attributable to Iconix was $36.2 million, a 13 percent increase as compared to the prior year quarter of approximately $31.9 million. Non-GAAP diluted EPS for the first quarter of 2013 increased 26 percent to $0.54 compared to $0.43 in the prior year quarter. GAAP net income attributable to Iconix for the first quarter of 2013 was approximately $34.2 million, a 24 percent increase as compared to $27.6 million in the prior year quarter and GAAP diluted EPS for the first quarter of 2013 increased 38 percent to $0.51 compared to $0.37 in the prior year quarter.

EBITDA, free cash flow, non-GAAP net income and non-GAAP diluted EPS are all non-GAAP metrics and reconciliation tables for each are attached to this press release.

Neil Cole, Chairman and CEO of Iconix Brand Group, Inc. commented, "With record results in the first quarter, 2013 is off to a strong start and we are on track to deliver over 20 percent revenue and EPS growth for the full year. We successfully completed three acquisitions in the past five months and with our current pipeline we believe there are additional opportunities, which would continue to enhance our portfolio.  As we look ahead, we are also focused on continuing to build our portfolio of brands organically through our global platform, and we believe that with our free cash flow and strong balance sheet we will continue to create increased shareholder value."

2013 Guidance for Iconix Brand Group, Inc.:
The Company is maintaining its 2013 revenue guidance of $425-$435 million

The Company is raising its 2013 non-GAAP diluted EPS guidance to $2.10-$2.20 from $2.05-$2.15

The Company is raising its 2013 GAAP diluted EPS guidance to $2.00-$2.10 from $1.95-$2.05

The Company is maintaining its free cash flow guidance of $203-$210 million.

This guidance relates to the Company's existing portfolio of brands and does not include any additional acquisitions.

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.

Source Iconix Brands Group through SportsOneSource

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