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Iconix Brand profit misses consensus by 43.4% in Q3

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Iconix Brand profit misses consensus by 43.4% in Q3

Iconix Brand Group Inc. said its third-quarter normalized net income amounted to 9 cents per share, compared with the S&P Capital IQ consensus estimate of 15 cents per share.

The per-share result swung to a profit from the prior-year loss of 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.9 million, compared with a loss of $1.1 million in the year-earlier period.

The normalized profit margin climbed to 7.6% from negative 1.2% in the year-earlier period.

Total revenue totaled $90.9 million, compared with $91.3 million in the year-earlier period, and total operating expenses declined 20.2% on an annual basis to $51.0 million from $63.9 million.

Reported net income came to $15.5 million, or 27 cents per share, compared to a loss of $5.3 million, or a loss of 11 cents per share, in the year-earlier period.