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Article Date: February 2017
Word Count: 266

Iconix Has Huge Loss on $425 Million Impairment

Licensing revenue declined 8% to $87,142,000 from $96,654,000 for the three months ended Dec. 31 but even a $28.1 million gain on the sale of Sharper Image during the period was overwhelmed by the massive impairment charge as well as an additional $18.3 million goodwill impairment charge. The net loss was $309,503,000 for the quarter against a loss of $275,975,000. Last year’s results included a $204 million asset impairment charge and a $35.1 million goodwill impairment charge. Excluding those and a number of other one-time costs, ICON said adjusted net was up 79% to $22,012,000 from $12,290,000. The asset impairment ... Log in to view full article.


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