US: Iconix posts 23% jump in Q4 profit
Iconix Brand Group reported a surge in full-year net income on the back of rising sales.
The company said profit for the year ended 31 December increased 28% to $126.1m. Revenue rose 11% to $369.8m.
Over the fourth-quarter, net income was up 23% to $27.2m as sales increased 9% to $95.5m.
"We are pleased to report that 2011 was another record year for our company," said chairman and CEO Neil Cole. "We continued to successfully execute our growth strategy through organic initiatives and acquisitions and look forward to continuing to build global businesses for our diverse portfolio of iconic brands.
"We see international expansion as the next big phase of growth for our Company and through our partnerships in China, Latin America, Europe and our newly announced joint venture in India we are well positioned to maximise the value of our brands around the world.
"In 2012, we remain committed to creating shareholder value by executing our growth initiatives and will continue to evaluate share repurchases as an additional way to deliver value."
Iconix Brand Group posted a 28.7% decline in seond-quarter net profit today (25 July), despite seeing sales rise....
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