Iconix Brand Group Inc, which owns and licenses brands such as Candie's, Joe Boxer, Mossimo and Ocean Pacific, has posted an 8% jump in third quarter profit on soaring revenues, and says it is on track to meet its full year guidance.

The New York based company has also authorised a program to repurchase up to $75m of its common stock.

For the three months to 30 September, net income rose to $18.3m from $17.0m and earnings per share was up to $0.30 from $0.28.

Revenue increased 29% to $55.1m from $42.7m. Earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 23% to $37.9m from $30.8m a year ago.

Neil Cole, chairman and CEO of Iconix, said: "Our business model is extremely well suited to thrive in the current economic environment.

"Having a diversified portfolio of 17 iconic brands and partnerships with best in class retailers enables us to continue to deliver great results."

Looking ahead, the company says it expects to achieve its 2008 guidance for revenue of $215-220m and earnings per share of $1.15-$1.20, but is now guiding towards the low-end of the ranges.

For fiscal 2009, revenues are forecast to rise 7% to $225-$235m with earnings per share up 8% to a range of $1.20-$1.30.