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Iconix Brand profit misses consensus by 39.1% in Q2

Iconix Brand Group Inc. said its second-quarter normalized net income amounted to 13 cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.

EPS decreased 14.3% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.3 million, a decline from $7.5 million in the year-earlier period.

The normalized profit margin increased to 11.8% from 11.0% in the year-earlier period.

Total revenue declined 9.6% year over year to $61.6 million from $68.2 million, and total operating expenses declined 10.0% from the prior-year period to $27.4 million from $30.4 million.

Reported net income came to a loss of $15.0 million, or a loss of 26 cents per share, compared to income of $10.6 million, or 21 cents per share, in the year-earlier period.