Iconix Net Jumps 23.9 Percent in Q1
April 24, 2013,
NEW YORK-Thanks to a healthy gain in revenue, Iconix Brand Group posted a record $34.2 million in first-quarter net income, an increase of 23.9 percent from the first quarter of last year.
Total revenue in the quarter, which ended on March 31, rose 18.8 percent to $105.1 million, also a record. Serving as somewhat of a brake on the acceleration of the bottom line, selling, general and administrative expenses climbed 25.7 percent in dollars and 203 basis points as a percentage of sales, to 37 percent.
Iconix also said it expects 2013 revenues to total between $425 million and $435 million. If so, it would mean an increase of from 20 to 23 percent in revenue over 2012.