Exhibit 99.1

CONFIDENTIAL DRAFT RELEASE

ICONIX BRAND GROUP REPORTS REVENUE AND EARNINGS FOR THE FOURTH QUARTER AND FULL YEAR 2012

 

   

Q4 and FY 2012 revenue of $85.1 million and $353.8 million, respectively

 

   

Q4 and FY 2012 non-GAAP diluted EPS of $0.41 and $1.70, respectively

 

   

2012 free cash flow of $180.5 million

 

   

Acquires Lee Cooper, iconic global lifestyle brand with over 100-year heritage

 

   

Announces new $300 million share repurchase program

NEW YORK, New York—February 20, 2013 – Iconix Brand Group, Inc. (NASDAQ: ICON) (“Iconix” or the “Company”), today announced financial results for the fourth quarter and year ended December 31, 2012.

Q4 2012 results for Iconix Brand Group, Inc.:

Total revenue for the fourth quarter of 2012 was approximately $85.1 million, as compared to approximately $95.5 million in the fourth quarter of 2011. EBITDA attributable to Iconix for the fourth quarter was approximately $50.0 million, as compared to approximately $57.3 million in the prior year quarter. Free cash flow attributable to Iconix for the fourth quarter was approximately $37.9 million, as compared to approximately $41.9 million in the prior year quarter. On a non-GAAP basis, as defined in the tables below, net income attributable to Iconix for the fourth quarter was approximately $28.9 million, as compared to approximately $31.3 million in the prior year quarter. Non-GAAP diluted EPS for the fourth quarter was $0.41 compared to $0.41 in the prior year quarter. GAAP net income attributable to Iconix for the fourth quarter was approximately $26.1 million, as compared to approximately $27.2 million in the prior year quarter and GAAP diluted EPS was $0.37 compared to $0.36 in the prior year quarter.

Full Year 2012 results for Iconix Brand Group, Inc.:

Total revenue for the full year 2012 was approximately $353.8 million, as compared to approximately $369.8 million for the prior year. EBITDA attributable to Iconix for 2012 was approximately $217.0 million as compared to approximately $229.6 million in the prior year. Free cash flow attributable to Iconix for 2012 was approximately $180.5 million as compared to $179.2 million for the prior year. On a non-GAAP basis, as defined in the tables below, net income attributable to Iconix for 2012 was approximately $122.0 million as compared to approximately $127.4 million in the prior year and non-GAAP diluted earnings per share for 2012 was approximately $1.70 versus $1.69 for the prior year. On a GAAP basis, net income attributable to Iconix for 2012 was approximately $109.4 million as compared to $126.1 million in the prior year and GAAP diluted earnings per share was $1.52 versus $1.67 for the prior year.

EBITDA, free cash flow, non-GAAP net income and non-GAAP EPS are all non-GAAP metrics and reconciliation tables to the respective GAAP measures are attached to this press release.

Neil Cole, Chairman and CEO of Iconix Brand Group, Inc. commented, “Over the past year we have executed on several exciting initiatives that position our company for significant growth. We acquired three iconic brands, continued to expand our global footprint, signed a Peanuts movie deal and launched a new $1.1 billion securitization facility. Looking to 2013 and beyond, with our powerful portfolio of over 30 brands that are well diversified across numerous industries and geographies along with our strong balance sheet and financial flexibility, we look forward to delivering continued growth and value to our shareholders.”

2013 Guidance for Iconix Brand Group, Inc.:

To reflect the Company’s acquisition of Lee Cooper, the Company is raising its 2013 guidance as follows;

 

   

The Company is raising its revenue guidance to $425-$435 million from $415-$425 million

 

   

The Company is raising its non-GAAP diluted EPS guidance to $2.05-$2.15 from $2.00-$2.10

 

   

The Company is raising its 2013 GAAP diluted EPS guidance to $1.95-$2.05 from $1.90-$2.00

 

   

The Company is raising its 2013 free cash flow guidance to $203-$210 million from $196-$203 million.

This guidance relates to the Company’s existing portfolio of brands and does not include any additional acquisitions.

Other Company News:

The Company announced today that it acquired the Lee Cooper brand. Lee Cooper is an iconic global lifestyle brand with over a 100-year heritage. See separate press release for additional details.

The Company also announced today that its Board of Directors has authorized a program to repurchase up to $300 million of its common stock. See separate press release for additional details.


The following information was filed by Iconix Brand Group, Inc. (ICON) on Monday, February 25, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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