• Profit jumps 31.4% to $42m versus $32m 
  • Revenue rose 23% to $115.1m from $93.6m
  • Year-to-date profit increased 29.3% to $81.3m

Iconix Brand Group, which owns and licenses brands including Candie's and Umbro, has lifted its full-year guidance after reporting a 31.4% increase in second-quarter net profit.

Chairman and CEO Neil Cole said: "With record performance in the second quarter, we made progress on our growth initiatives driving over 20% revenue growth and 60% EPS growth."

"We believe the performance we have achieved year-to-date and over the past several years demonstrates the power of our business model, and over the next few years we expect to see additional growth as we continue to build our existing brands around the world and further leverage our strong balance sheet and free cash flow to add iconic brands to our portfolio and continue to enhance shareholder value through opportunistic share repurchases."

The company now expects full-year adjusted earnings per share to be $2.20-$2.30, compared to its earlier guidance of $2.10-$2.20. Iconix has, however, maintained its revenue guidance of $425-$435m.