(Filed Under Financial and General Interest News). Iconix Brand Group, Inc. reported a 5.3 percent decrease in income and a 4.3 percent decrease in revenue for the third quarter of 2011.
Net income came to $26 million, or 34 cents a share, down from $27.4 million, or 37 cents a share, in the third quarter of 2010. Revenue primarily from licensing fell to $92.7 million from $96.9 million. Along with financial results, the company also announced it signed an agreement to acquire The Sharper Image brand, its first entry into the consumer electronics market.
"As we look to 2012, we are excited about the many opportunities ahead as we continue to grow our platform through new retail partners, new categories and new geographies," stated Iconix chairman and C.E.O. Neil Cole.
The company reaffirmed its full-year 2011 revenue guidance range of $355 to $365 million. New York-based Iconix Brand Group, Inc. functions as a major marketing and licensing firm with partial or full ownership of dozens of consumer retail brands, including Badgley Mischka, Joe Boxer, Danskin and Material Girl.
Disclaimer: The views expressed in comments published on bodymagazine.us are those of the comment writers alone. They do not represent the views or opinions of Bodymagazine or its staff.
NOTE: Your Email will not be displayed.