Capping a year of enormous writedowns and other financial machinations, a $66 million income tax benefit helped ICON to a $24,087,000 profit in Q4 against a loss of $297,548,000 on licensing revenues of $52,299,000, down 11% from $58,801,000. For the full year, the net loss was $489,253,000 compared to a loss of $252,134,000 as licensing revenues fell 11% to $225,833,000 from $255,143,000. Impairment charges totaled $646.5 million in 2017 against a mere $438.1 million in 2016 with the primary culprit this year being Walmart, which declined to renew its Danskin license. Ignoring all the bookkeeping, free cash flow dwindled 80% ... Log in to view full article.