US: Iconix Q3 profit boosted by Peanuts
- Q3 adjusted net profit up 32% to US$29.8m
- Revenues rise 63% to $96.9m
- Raises FY sales, earnings guidance
Licensed consumer goods business Iconix Brand Group raised its full-year guidance after seeing third quarter earnings and revenue surge up 32% and 63% respectively.
The company said all its business units recorded growth, but singled out its new contract signed with ABC for Peanuts specials, which added US$12.5m in revenue during the three months to 30 September.
“With 27 brands today that represent approximately $12bn in annual global retail sales, we are the second largest consumer products licensing company in the world, and we remain committed to expanding and growing our portfolio of iconic brands through new categories, geographies and distributions,” said Neil Cole, Iconix chairman and CEO.
The company raised its full-year revenue guidance to $323-328m, with adjusted diluted earnings per share expected to hit $1.38-1.42.
US fashion firm Iconix Brand Group has posted improved revenue and profits for the fiscal year, saying its brands had gained market share. ...
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