$ICON last night news, ICON 7.77 0.00 0.00 24,
Post# of 23077
Posted On: 02/19/2016 8:52:12 AM
$ICON last night news, ICON 7.77 0.00 0.00 24,810 8.35 8.65
Iconix Brand Group Inc. on Thursday restated and revised higher results for the first nine months of 2015, which were revised higher, and backed its earnings outlook for 2016 despite the changes.
The company said in a news release, however, that it expected the revised data would impact credit market conditions which in turn would influence "the cost of Iconix's impending financing." The company didn't provide further details, though last year it entered talks with potential lenders seeking to refinance its 2016 convertible notes.
The comments on Thursday came after the company completed the review of its accounting with the Securities and Exchange Commission.
The changed data for the first nine months of 2015 showed revenue climb 5% to $292.7 million when compared to the originally released figures.
The owner of such brands as Candie's, Joe Boxer and Sharper Image also said in a regulatory filing that the restated results showed earnings on a per-share basis climbed 4 cents to $1.47, while net income climbed 8.6% to $90.3 million.
The licensing company previously had released revised data for its 2013 and 2014 years in connection with an SEC probe.
During 2015, Iconix's top management--including its CEO, operating chief and financial chief--departed at different times as the company, in correspondence with the SEC, began to review the accounting of certain international joint venture transactions. On Thursday, Iconix said it has responded to the SEC with a confirming letter on all raised questions.
Amid the revised results, the company said it was backing its 2016 outlook for earnings in the range of $1.08 to $1.23 a share and free cash flow between $170 million and $185 million.
Write to Ezequiel Minaya at Ezequiel.Minaya@wsj.com
(END) Dow Jones Newswires
February 18, 2016 19:02 ET (00:02 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Iconix Brand Group Inc. on Thursday restated and revised higher results for the first nine months of 2015, which were revised higher, and backed its earnings outlook for 2016 despite the changes.
The company said in a news release, however, that it expected the revised data would impact credit market conditions which in turn would influence "the cost of Iconix's impending financing." The company didn't provide further details, though last year it entered talks with potential lenders seeking to refinance its 2016 convertible notes.
The comments on Thursday came after the company completed the review of its accounting with the Securities and Exchange Commission.
The changed data for the first nine months of 2015 showed revenue climb 5% to $292.7 million when compared to the originally released figures.
The owner of such brands as Candie's, Joe Boxer and Sharper Image also said in a regulatory filing that the restated results showed earnings on a per-share basis climbed 4 cents to $1.47, while net income climbed 8.6% to $90.3 million.
The licensing company previously had released revised data for its 2013 and 2014 years in connection with an SEC probe.
During 2015, Iconix's top management--including its CEO, operating chief and financial chief--departed at different times as the company, in correspondence with the SEC, began to review the accounting of certain international joint venture transactions. On Thursday, Iconix said it has responded to the SEC with a confirming letter on all raised questions.
Amid the revised results, the company said it was backing its 2016 outlook for earnings in the range of $1.08 to $1.23 a share and free cash flow between $170 million and $185 million.
Write to Ezequiel Minaya at Ezequiel.Minaya@wsj.com
(END) Dow Jones Newswires
February 18, 2016 19:02 ET (00:02 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'