Last $34.75 USD
Change Today +0.02 / 0.06%
Volume 843.7K
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As of 8:10 PM 01/23/15 All times are local (Market data is delayed by at least 15 minutes).

iconix brand group inc (ICON) Key Developments

Number Of Bidders Appoached Perry Ellis

Iconix Brand Group, Inc. (NasdaqGS: ICON) and an unknown firm approached to buy Perry Ellis International Inc. (NasdaqGS:PERY) by paying $30 per share, The Post has learned. The talks have been informal and could fall apart. Sequential Brands Group, Inc. (NasdaqCM:SQBG), Authentic Brands Group LLC and Sycamore Partners also were among the bidders who approached in recent months, sources said. Officials at Perry Ellis and Iconix didn’t respond to requests for comment. Representatives for the other firms declined to comment. George Feldenkre, Chairman and Chief Executive Officer of Perry Ellis is looking to hire either Bank of America or Peter J. Solomon, a boutique investment bank, to advise it, insiders said.

Iconix Brand Mulls Acquisitions

Iconix Brand Group, Inc. (NasdaqGS:ICON) is looking for acquisitions. Seth Horowitz, Chief Operating Officer of Iconix Brand Group, Inc. said, "We are looking in new acquisitions in the athletic space as well as the entertainment space of global brands and we continue to look at our very strong balance sheet as a foundation for us to continue to acquire brands within our multiples that we are very comfortable with."

Iconix Brand Group, Inc. Presents at Morgan Stanley Global Consumer Conference 2014, Nov-18-2014 03:35 PM

Iconix Brand Group, Inc. Presents at Morgan Stanley Global Consumer Conference 2014, Nov-18-2014 03:35 PM. Venue: Crown Plaza Times Square, New York, New York, United States.

Iconix Brand Group, Inc. Appoints Sue Gove as an Independent Director and Audit Committee Member

Iconix Brand Group, Inc. announced that its Board of Directors has appointed Ms. Sue Gove as an independent director of the company, effective immediately. Ms. Gove will also serve on the company's Audit Committee. Ms. Gove most recently served as Chief Executive Officer of Golfsmith International and was instrumental in improving the firm's revenue and increasing profitability.

Iconix Brand Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended of September 30, 2014; Revises Earnings Guidance for the Full Year of 2014; Provides Earnings Guidance for the Year 2015

Iconix Brand Group, Inc. reported earnings results for the third quarter and nine months ended of September 30, 2014. For the quarter, the company posted third quarter GAAP net income attributable to the company of $33.8 million or $0.58 per share, compared with the prior-year period's $29 million or $0.50 per share. Non-GAAP net income attributable to the company was $38.3 million or $0.73 per share, against of $33.1 million or $0.59 per share in the same quarter the previous year. Revenue was $113.8 million, up 6% from $107.2 million in the same quarter last year. In the third quarter, the company generated $61.8 million of free cash flow, a 14% increase as compared to $54.3 million in the prior year quarter and free cash flow per diluted share of $1.17, a 21% increase as compared to $0.97 per diluted share in the prior year quarter. EBITDA was approximately $65.5 million, essentially flat to the prior year's third quarter. Operating income was $63,560,000 compared to $61,470,000 for the same period a year ago. Income before income taxes was $47,119,000 compared to $44,244,000 for the same period a year ago. For the nine months, revenue increased 7% to approximately $348.8 million as compared to $327.4 million in the prior year period. Non-GAAP net income was approximately $117.2 million, a 5% increase as compared to $112 million in the prior year period. Diluted non-GAAP earnings per share increased 20% to $2.22 compared to $1.85 in the prior year period. The company generated free cash flow of approximately $179.8 million, an 8% increase, compared to $167 million in the prior year period and free cash flow per diluted share of $3.40, a 23% increase compared to $2.76 in the prior year period. EBITDA increased 5% to approximately $213.4 million as compared to $202.8 million in the prior year period. GAAP net income attributable to the company was approximately $128.9 million, a 26% increase as compared to $101.9 million in the prior year period, and GAAP diluted EPS for the nine month period of 2014 increased 33% to $2.21 compared to $1.67 in the prior year period. Operating income was $206,146,000 compared to $199,220,000 for the same period a year ago. Income before income taxes was $195,075,000 compared to $159,225,000 for the same period a year ago. Net cash provided by operating activities was $124,446,000 compared to $160,218,000 for the same period a year ago. Capital expenditures were $1,086,000 compared to $1,046,000 for the same period a year ago. The company revised earnings guidance for the year 2014. Non-GAAP diluted EPS guidance range was increased to $2.72 to $2.77 from $2.60 to $2.70. GAAP diluted EPS guidance range increased to $2.61 to $2.65 from $2.50 to $2.60. The company maintained 2014 revenue guidance of $455 million to $465 million and free cash flow guidance of $215 million to $222 million. Depreciation and amortization of intangibles expected to be $5,000,000. Net income expected to be in the range of $148,000,000 to $154,000,000. Capital expenditures expected to be $2,000,000. The company provided earnings guidance for the year 2015. For the period, the company expected revenue to be in the range of $485 million to $500 million, include brand revenue from nonconsolidated joint ventures. Total organic revenue expected to be across entire portfolio to grow at over 10% in 2015. Non-GAAP diluted EPS range expected to be $2.90 to $3.10 and free cash flow to be in the range of $220 million to $230 million. Depreciation and amortization of intangibles expected to be $5,800,000. Net income expected to be in the range of $156,000,000 to $166,000,000. Capital expenditures expected to be in the range of $1,000,000 to $2,000,000.

 

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ICON

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Price/Book 1.8x
Price/Cash Flow 10.8x
TEV/Sales 0.0x
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