iconix brand group inc (ICON) Key Developments
Pomerantz LLP Announces Class Action Lawsuit Against Iconix Brand Group, Inc
Jul 24 15
Pomerantz LLP announces that a class action lawsuit has been filed against Iconix Brand Group, Inc. and certain of its officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 15-cv-04981, is on behalf of a class consisting of all persons or entities who purchased Iconix securities between February 20, 2013 and April 17, 2015 inclusive. This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934. The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: that the company had underreported the cost basis of its brands; that the company engaged in irregular accounting practices related to the booking of its joint venture revenues and profits, free-cash flow, and organic growth; that, as a result, the Company's earnings and revenues were overstated; and that, as a result of the foregoing, Defendants' statements about Iconix's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Glancy Prongay & Murray LLP Files Class Action Lawsuit Against Iconix Brand Group, Inc
Jun 23 15
Glancy Prongay & Murray LLP, representing investors of Iconix Brand Group, Inc. has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of a class comprising purchasers of Iconix securities between February 20, 2013 and April 17, 2015, inclusive (the 'Class Period').
Iconix Brand Group, Inc. Appoints David K. Jones as Executive Vice President and Chief Financial Officer
Jun 17 15
Iconix Brand Group, Inc. announced the appointment of David K. Jones as Executive Vice President and Chief Financial Officer. He will report directly to Chief Executive Officer, Neil Cole, and will lead all of the finance and technology functions for the company. Mr. Jones joins Iconix after twelve years with Penske Automotive Group. During his tenure, Mr. Jones served as Penske's Executive Vice President and Chief Financial Officer, as well as Chief Financial Officer of European Operations. Mr. Jones led the international accounting and finance functions, and was responsible for strengthening the company's balance sheet through a series of large transactions.
Iconix Brand Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Revises Earnings Guidance for the Full Year of 2015
Apr 29 15
Iconix Brand Group, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $95.387 million against $116.138 million a year ago. Operating income was $51.232 million against $67.936 million a year ago. Income before income taxes was $91.817 million against $88.396 million a year ago. Net income attributable to the company was $62.840 million against $59.768 million a year ago. Diluted earnings per share was $1.21 against $1.03 a year ago. Non-GAAP net income was $26.679 million against $39.281 million a year ago. Non-GAAP diluted EPS was $0.54 against $0.74 a year ago. EBITDA was $52.351 million against $69.777 million a year ago. Net cash provided by operating activities was $33.066 million against $52.745 million a year ago. Capital expenditures was $0.995 million against $0.995 million a year ago.
The company maintained earnings guidance for the full year 2015. The company expects to report revenue in the range of $490 million to $510 million, non-GAAP diluted EPS in the range of $3 to $3.15, and free cash flow in the range of $208 million to $218 million. The company is increasing its 2015 GAAP diluted EPS guidance to $3.65-$3.79 from $3.06-$3.20 to reflect the gain in the first quarter of 2015 related to the company's acquisition of full ownership and control of its Iconix China joint venture. The company expects net cash provided by operating activity between $195 million to $190 million, capital expenditures of $2 million.
Iconix Brand Group, Inc. to Report Q1, 2015 Results on Apr 29, 2015
Apr 22 15
Iconix Brand Group, Inc. announced that they will report Q1, 2015 results at 10:00 AM, US Eastern Standard Time on Apr 29, 2015