Iconix Sets Q1 Records for Earnings, Revenues
April 30, 2014,
NEW YORK-Iconix Brand Group got its 2014 fiscal year off to what Neil Cole, chairman and CEO, called "a strong start" by achieving record earnings and revenues for its fiscal first quarter.
Net income totaled $59.8 million, up 74.8 percent from the first quarter of last year. Licensing and other revenue increased 10.5 percent to $116.1 million. "Through our diversified portfolio of brands and expanding global footprint, we continued to achieve strong growth," Cole said.
Selling, general and administrative expenses rose 24.1 percent in dollars and 454 basis points as a percentage of sales, to 41.5 percent.