Iconix Brand Slips To Loss In Q4; Sees Lower Revenues In FY19 - Quick Facts

(RTTNews) - Iconix Brand Group Inc. (ICON) on Wednesday reported net loss attributable to the company for the fourth quarter of $69.08 million or $0.75 per share, compared to net income of $24.09 million or $3.97 per share in the year-ago period.

The latest quarter's results include a non-cash trademark impairment charge of $58.7 million, primarily in the Womens segment related to the write-down in the Mossimo, Joe Boxer and Mudd trademarks, to reduce various trademarks in those segments to fair value. The company also recorded a non-cash investment impairment charge of $2.5 million in the quarter due to impairment of the company's investment in iBrands.

Revenue for the quarter declined 18 percent to $42.71 million from $52.30 million a year ago.

The decline in revenues was principally as a result of the transition of the company's Danskin, OP and Mossimo direct to retail licenses in its Womens segment, as previously announced. Revenues were also impacted by the effect of the Sears bankruptcy on the company's Joe Boxer & Bongo brands in Womens and the Cannon brand in Home.

Looking ahead to fiscal 2019, the company forecast revenue in a range of $145 million to $160 million and adjusted EBITDA of about $70 million to $80 million. This compares to revenues of $187.69 million in fiscal 2018.