×
187
Fashion Jobs
THE SEARCH HOUSE (A DIV OF JSD SEARCH HOUSE PVT. LTD.)
Manager Production-Sheet Metal (Laser /Punching/ Press Break)
Permanent · Bhiwadi
ABHAY INDUCTION TECH PVT LTD
Sales Manager
Permanent · Ahmedabad
FREELANCER PRATIK PARIKH
Opening in Leading Life Insurance Company/ Area Business Manager
Permanent · Gandhinagar
MANISHMEDI INNOVATION
Area Sales Manager
Permanent · Hyderabad
OJB HERBALS
Area Sales Manager
Permanent · Ranchi
LIVE BIOTECH PRIVATE LIMITED
Area Sales Manager, Regional Sales Manager, Zsm
Permanent · Chennai
KM ELECTRONIC CABLES PVT. LTD
Area Sales Manager - Vijayawada
Permanent · Chennai
CTA APPARELS PVT. LTD
Opening For Merchandising Manager- Noida(Garment Export)
Permanent · Noida
CTA APPARELS PVT. LTD
Opening For Merchandising Manager- Noida(Garment Export)
Permanent · Noida
STAR UNION DAI ICHI LIFE INSURANCE (SUD LIFE)
Hiring- Area Manager - Bancassurance- Kolkata Metro
Permanent · Kolkata
NIKKO & CO.
Area Sales Manager /Sales Officers(5-10 Yrs Into Fmcg)
Permanent · Karimnagar
FUTURE GENERALI
Opening For Area Manager in Bangalore With Future Generali li
Permanent · Bengaluru
INFEXN LABORATORIES PRIVATE LIMITED
Area Sales Manager
Permanent · Mumbai
LENSKART
Area Operations Manager
Permanent · Chennai
ADECCO INDIA PRIVATE LIMITED
Job Opening For Area Sales Manager Role For Mnc Company
Permanent · Bengaluru
DR LAL PATHLABS
Area Sales Manager -Chandigarh
Permanent · Chandigarh
JOB INDIA
Regional Manager Sales (Backend Operations)Garments - Gurgaon
Permanent · Faridabad
HERITAGE NUTRIVET LIMITED
Cattle Feed - Area Sales Manager - Salem Location
Permanent · Salem
THINK FIRST DIGITAL
Hiring For Event Production Manager - Mumbai
Permanent · Mumbai
LUPIN
Opportunity For Area Manager - Mass Marketing - Lupin Ltd
Permanent · Pune
SOBHA
Manager - Sales at Sobha Nesara, Kothrud - Pune
Permanent · Pune
MIDAS HYGIENE INDUSTRIES PRIVATE LIMITED
Area Sales Manager - Punjab
Permanent · Jalandhar
Published
May 7, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Iconix income jumps as company resolves debt obligations

Published
May 7, 2018

The New York-based brand management company Iconix Brand Group published its results for the first quarter of 2018 on Friday, reporting net income of $32.7 million, up from $4.4 million in the prior year period, despite revenue slipping 17%.


Iconix's acquisition of Rocawear from rapper Jay-Z is currently being investigated by the SEC - Instagram: @Rocawear


Indeed, revenue was down to $48.5 million in the first quarter ended March 31, 2018, compared to $58.7 million in Q1 2017, a decline which, according to the company, was in line with its expectations. Operating income also fell to $20.5 million, as compared to $33.6 million in the same period in the previous year.
 
The increase in the company’s net income, which rose from $4.4 million in the first quarter of 2017, is thanks, in large part, to gains resulting from the extinguishment of the company’s debt and the elimination of non-cash interest expense related to its 5.75% convertible notes, which totaled $24.4 million.

“Following intense focus on our balance sheet resulting in the successful resolution of all near term debt obligations, we are excited to speak with the investor community to discuss progress on our growth initiatives,” said Iconix CEO John Haugh in a release.
 
“We have demonstrated our ability to successfully reposition some of our core brands and we continue to work closely with our best-in-class licensees to maintain the strength of our long-term partnerships, while evaluating opportunities to drive brand portfolio growth. We are thus maintaining our revenue and free cash flow guidance for the year.”
 
Accordingly, Iconix’s full year revenue guidance for 2018 is still between $190 million to $220 million. Income however, is now expected to be between $17 million to $27 million, rather than the previously reported $7 million to $17 million.
 
In other news, the company made headlines on Thursday after the U.S. Security and Exchange Commission (SEC) ordered rapper Shawn “Jay-Z” Carter to testify in relation to the sale of his Rocawear clothing label to Iconix in 2007, in order to ascertain whether the acquisition violated federal security laws.
 
A representative for Carter has denied knowledge of any wrongdoing, telling CNBC, “We are aware that the SEC is seeking information on Iconix’s financial reporting. Mr. Carter had no role in that reporting or Iconix’s other actions as a public company.”


 

Copyright © 2022 FashionNetwork.com All rights reserved.