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Iconix Brand profit misses consensus by 16.0% in Q1

Iconix Brand Group Inc. said its normalized net income for the first quarter amounted to 19 cents per share, compared with the S&P Capital IQ consensus estimate of 23 cents per share.

EPS fell 60.3% year over year from 49 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $9.7 million, a decline of 61.5% from $25.3 million in the prior-year period.

The normalized profit margin declined to 9.9% from 26.4% in the year-earlier period.

Total revenue fell year over year to $94.6 million from $95.8 million, and total operating expenses grew 28.2% year over year to $52.6 million from $41.0 million.

Reported net income decreased 71.5% on an annual basis to $18.6 million, or 37 cents per share, from $65.4 million, or $1.26 per share.