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Iconix Brand profit misses consensus by 29.2% in Q2

Iconix Brand Group Inc. said its normalized net income for the second quarter amounted to 16 cents per share, compared with the S&P Capital IQ consensus estimate of 22 cents per share.

EPS decreased 43.4% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $8.0 million, a decrease of 42.1% from $13.8 million in the year-earlier period.

The normalized profit margin declined to 11.0% from 14.2% in the year-earlier period.

Total revenue decreased on an annual basis to $95.7 million from $97.4 million, and total operating expenses climbed on an annual basis to $48.2 million from $47.0 million.

Reported net income declined 16.1% on an annual basis to $11.7 million, or 23 cents per share, from $13.9 million, or 28 cents per share.