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Article Date: August 2017
Word Count: 310

Iconix Restructuring Continues in Q2

ICON’s net income jumped to $41,234,000 from $11,582,000 in the second quarter, boosted by the sale of its Entertainment segment offset by several other one time charges, as licensing revenues dipped 10% to $61,647,000 from $68,209,000. The company reported preliminary results, delaying final Q2 reporting until it finishes the deconsolidation of its Southeast Asia joint venture. Along with the $104.3 million gain from the sale, ICON also recorded a $23.2 million loss for termination of licenses and a $13.9 million expense for early extinguishment of debt. SG&A declined 9% to $26.8 million from lower compensation expense and lower bad debt ... Log in to view full article.


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