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Iconix Brand profit misses consensus by 55.3% in Q3

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Iconix Brand profit misses consensus by 55.3% in Q3

Iconix Brand Group Inc. said its third-quarter normalized net income amounted to 4 cents per share, compared with the S&P Capital IQ consensus estimate of 9 cents per share.

EPS declined 80.8% year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.9 million, a decline of 84.1% from $12.3 million in the prior-year period.

The normalized profit margin declined to negative 1.2% from 13.6% in the year-earlier period.

Total revenue fell on an annual basis to $88.9 million from $90.0 million, and total operating expenses climbed 28.0% from the prior-year period to $60.0 million from $46.8 million.

Reported net income came to a loss of $6.3 million, or a loss of 13 cents per share, compared to income of $12.9 million, or 22 cents per share, in the prior-year period.