LONDON, UK / ACCESSWIRE / April 19, 2018 / Active-Investors.com has just released a free earnings report on Iconix Brand Group, Inc. (NASDAQ: ICON) ("Iconix"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ICON. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on March 14, 2018. The clothing brand licensing Company provided guidance for the fiscal year 2018. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Iconix Brand Group most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the fourth quarter of the fiscal year 2017, Iconix's licensing revenues were $52.3 million, reflecting a decline of 11% compared to $58.8 million in Q4 2016. For Q4 2016, the Company's revenues included approximately $4.0 million of licensing revenues from the Sharper Image brand which was sold in Q4 2016, and $1.3 million of licensing revenues from the Company's Southeast Asia joint venture which was deconsolidated in Q2 2017. Excluding Sharper Image and Southeast Asia, Iconix's revenues declined approximately 2% on a y-o-y basis in the reported quarter. The Company's revenue numbers came in ahead of analysts' estimates of $51.5 million.

For the full fiscal year 2017, Iconix's licensing revenues were $225.8 million, down 11% compared to $255.1 million in FY16. Excluding Sharper Image, Badgley Mischka, and Southeast Asia, the Company's revenues declined approximately 7% during FY17.

During Q4 2017, Iconix's total selling, general, and administrative expenses (SG&A) were $40.9 million, up 11% compared to $36.8 million in Q4 2016. For the reported quarter, the Company's SG&A included $2.5 million of special charges related to professional fees associated with the SEC investigation, the class action and derivative litigations, continuing correspondence with the Staff of the SEC, and costs related to the transition of Iconix management, compared to approximately $3.9 million in Q4 2016. The Company's stock-based compensation was $4.9 million in the reported quarter compared to $2.1 million in the prior year's same quarter.

For Q4 2017, Iconix's operating loss was $18.3 million compared to an operating loss of $388.2 million in Q4 2016. The Company's reported quarter operating loss included trademark and investment impairments of $28.5 million, and a loss on termination of licenses of $2.4 million. Excluding these items, Iconix's adjusted operating income was approximately $12.6 million in Q4 2017. For Q4 2016, the Company's operating loss included trademark, goodwill, and investment impairments of $438.1 million; income related to the Sharper Image brand of $3.0 million; as well as a gain on the sale of the Sharper Image trademark of $28.1 million.

For Q4 2017, Iconix's GAAP net income from continuing operations reflected an income of $24.7 million, or $0.40 per diluted share, compared to a net loss of $293.9 million, or $5.23 loss per diluted share, in Q4 2016.

Iconix's non-GAAP net income from continuing operations was $3.6 million, or $0.06 per diluted share, in Q4 2017 compared to $22.1 million, or $0.39 per diluted share, in Q4 2016. The Company's earnings beat Wall Street's estimates for a loss of $0.01 per share.

For FY17, Iconix's GAAP net loss from continuing operations was $535.3 million, or $9.47 loss per diluted share, compared to a net loss from continuing operations of $254.5 million, or $4.86 loss per diluted share, in FY16. The Company's non-GAAP net income from continuing operations was $45.0 million, or $0.78 per diluted share, in FY17 compared to $68.7 million, or $1.31 per diluted share, in FY16.

Cash Matters

During Q4 2017, Iconix generated a free cash flow of $10.3 million compared to $174.3 million in Q4 2016. In FY17, the Company generated a free cash flow of $56.6 million compared to $277.0 million in FY16. During FY16, Iconix received $98.3 million of cash related to the sale of the Sharper Image brand.

During Q4 2017, Iconix amended its senior secured term loan, and reduced the size of the credit facility by $75 million to $225 million.

Outlook

For the full fiscal year 2018, Iconix is forecasting revenues to be in the range of $190 million to $220 million. The Company noted that it is on track to deliver approximately $12 million of full year cost-savings, aligning expenses with revenue base. For FY18, the Company is estimating GAAP net income to be in the band of $7 million to $17 million, and non-GAAP net income to be in the range of $20 million to $30 million. Iconix is expecting a free cash flow of approximately $50 million to $70 million for FY18.

Stock Performance Snapshot

April 18, 2018 - At Wednesday's closing bell, Iconix Brand Group's stock advanced 7.27%, ending the trading session at $1.00.

Volume traded for the day: 1.39 million shares.

After yesterday's close, Iconix Brand Group's market cap was at $63.47 million.

The stock is part of the Consumer Goods sector, categorized under the Textile - Apparel Footwear & Accessories industry.

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