Iconix Brand Group ICON today announced financial results for the first quarter ended March 31, 2011.
Q1 2011 results for Iconix Brand Group, Inc.:
Total revenue for the first quarter of 2011 was approximately $92.4 million, a 29% increase as compared to approximately $71.7 million in the first quarter of 2010. EBITDA attributable to Iconix for the first quarter was approximately $58.8 million, a 19% increase as compared to approximately $49.4 million in the prior year quarter. Free cash flow for the quarter was $45.9 million a 15% increase as compared to approximately $40.1 million in the prior year quarter. On a non-GAAP basis, which excludes non-cash interest related to the Company's convertible debt, net income attributable to Iconix increased 25% to approximately $33.7 million, as compared to $27.0 million in the prior year quarter and non-GAAP diluted earnings per share for the first quarter of 2011 was $0.45 versus $0.36 in the prior year quarter. On a GAAP basis, net income attributable to Iconix increased 27% to approximately $31.4 million, as compared to approximately $24.8 million in the prior year quarter and GAAP diluted earnings per share for the first quarter of 2011 was $0.42 versus $0.33 in the prior year quarter. EBITDA, free cash flow, non-GAAP net income and non-GAAP diluted EPS are all non-GAAP metrics and reconciliation tables for each are attached to this press release.
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