UPDATE: Iconix Brand Group (ICON) Misses Q1 EPS by 2c, Miss on Revenues; Affirms FY18 Revenue Guidance

Iconix Brand Group (NASDAQ: ICON) reported Q1 EPS of $0.10, $0.02 worse than the analyst estimate of $0.12. Revenue for the quarter came in at $48.55 million versus the consensus estimate of $51.1 million.

2018 Guidance:

• Reiterating previously announced full year revenue guidance of $190 million to $220 million
• On track to deliver approximately $12 million of full year cost-savings, aligning expenses with revenue base
• Previous GAAP net income guidance of approximately $7 million to $17 million, being increased to $17 million to $27 million principally due to the Q1 gain on extinguishment of debt and the elimination of non-cash interest expense related to our 5.75% convertible notes
• Reiterating non-GAAP net income guidance of $20 million to $30 million
• Reiterating full year free cash flow guidance of $50 million to $70 million

GUIDANCE:

Iconix Brand Group sees FY2018 revenue of $190-220 million, versus the consensus of $202 million.

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

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