Iconix Brand Group (NASDAQ: ICON) reported Q4 EPS of ($1.06), versus ($7.94) reported last year. Revenue for the quarter came in at $33.89 million versus the consensus estimate of $22.28 million.

• Total revenue of $33.9 million compared to $43.2 million in the prior year quarter.
• GAAP Operating Income $2.6 million as compared to a loss of $60.4 million in the prior year quarter.
• Adjusted EBITDA of $18.4 million, compared to $21.1 million in the prior year quarter.
• Continued to improve cost structure, decreasing SG&A expenses by 27% from prior year quarter.
• Signed 190 license agreements during 2020, representing $134 million of aggregate minimum royalties over the life of these contracts.
• Completed Sale of Lee Cooper China in March 2021 with net proceeds of $15.8 million and repaid $11.8 million of Senior Secured Term Loan.

Bob Galvin, CEO commented, “Our entire organization committed to delivering the best possible results for our licensees and our shareholders this past year and I want to thank each of our associates for their dedication during this very difficult period. We operated at a high level throughout the pandemic due to our consistent focus on our business objectives. While we are hopeful that the pandemic will subside in 2021, we will continue to address the many pandemic-related challenges we face between now and then, and, at the same time, continue to focus on realizing the opportunity that exists for our brands through focusing on building our pipeline of future business. We had great success during this pandemic year, as we signed 190 deals for aggregate guaranteed minimum royalties of approximately $134 million, approximately the same amount that we signed in 2019.

Galvin continued, “We have also made great strides to de-lever our balance sheet. From December 31, 2019 to today, through proceeds from assets sales and cash flow, we have reduced our Term Loan balance by over 52%, or approximately $92 million.”

For earnings history and earnings-related data on Iconix Brand Group (ICON) click here.