Iconix Brand Group said it pushed up its first-quarter earnings and revenue thanks to growing its existing brands and adding on new ones.

The brand manager and licensor, which is on line to buy the Mossimo brand, said quarterly net income was US$7.4m compared to $800,000 last year. Licensing revenue went up to $13.3m from $4.3m a year ago.

Chairman and CEO Neil Cole said: "These are our first year-over-year comparable results as a brand management company and they begin to indicate the strength of our growth strategy and the scalability of this business model.

"Our performance in the quarter was nicely balanced between continued expansion of our brands Candie's, Bongo and Badgley Mischka, and a significant contribution from newly acquired brands Joe Boxer and Rampage.

"We are pleased about closing on our sixth brand, Mudd, and believe that it will be a very strong contributor to our earnings for many years to come."

The company agreed this week to pay off rival bidder for Mossimo, Cherokee, with $33m cash in order to pursue its acquisition of the brand.