NEW YORK–Iconix Brand Group said its full-year 2009 net income should finish between $80 million to $83 million, 25 percent ahead of last year’s bottom line.
In a company statement, Neil Cole, chairman and chief executive officer, said the company is benefiting from its ability “to drive organic growth and increased earnings.” Iconix also predicted that 2009 full-year revenue would range between $215 million and $220 million. While this new forecast is down from its previous call for revenue of between $223 million and $230 million, it would still represent 5 percent growth in revenue over the full year of 2008.
Iconix also said third-quarter net income for this year would total $19 million to $21 million, up about 20 percent of the third quarter of 2008. Revenue for the quarter is expected to finish at from $53 million to $56 million, about 4 percent more than last year.