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8-K
ICONIX BRAND GROUP, INC. filed this Form 8-K on 11/09/2018
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Free Cash Flow:

 

The Company generated $6.6 million of free cash flow in the third quarter of 2018, a 361% increase as compared to $1.4 million in the third quarter of 2017.

 

The Company generated $38.0 million of free cash flow in the nine months ended September 30, 2018, a 18% decrease as compared to $46.3 million in the nine months ended September 30, 2017.

  

Free Cash Flow Reconciliation: (3)                        
($, 000's)                        
   Three Months Ended September 30,   Nine Months Ended September 30, 
   2018   2017   % Change   2018   2017   % Change 
Net cash provided by operating activities  $10,349   $(16,918)   -161%  $49,697   $3,097    1505%
  Plus: Cash from sale of trademarks and related notes   receivable   -    -         195    6,927      
  Plus: Cash from notes receivable from licensees   -    -         1,409    1,250      
  Plus: Net cash from sale of Badgley Mischka &   Sharper Image in JVs   -    875         1,211    875      
  Plus: Cash from sale of Nick Graham   -    2,561         -    2,561      
  Plus: Cash related to Disc Ops sale   -    15,000         -    36,272      
  Less: Capital Expenditures   (205)   (74)        (776)   (829)     
  Less: Distributions to non-controlling interests   (3,525)   (7)        (13,693)   (3,850)     
                               
Free Cash Flow from operations  $6,619   $1,437    361%  $38,043   $46,303    -18%

 

Conference Call

 

The Company will host a conference call today at 10:00 AM ET. The call can be accessed on the Company's website at https://protect-us.mimecast.com/s/AlUlCG6wQRi14oQwF7w1b7 or by telephone at 844-286-1555 or 270-823-1180 (conference ID: 4589066). A written transcript will be posted online as soon as available.

 

About Iconix Brand Group, Inc.

 

Iconix Brand Group, Inc. owns, licenses and markets a portfolio of consumer brands including: CANDIE'S ®, BONGO ®, JOE BOXER ®, RAMPAGE ®, MUDD ®, MOSSIMO ®, LONDON FOG ®, OCEAN PACIFIC ®, DANSKIN ®, ROCAWEAR ®, CANNON ®, ROYAL VELVET ®, FIELDCREST ®, CHARISMA ®, STARTER ®, WAVERLY ®, ZOO YORK ®, UMBRO ®, LEE COOPER ®, ECKO UNLTD. ®, MARC ECKO ®, ARTFUL DODGER ®, and HYDRAULIC®. In addition, Iconix owns interests in the MATERIAL GIRL ®, ED HARDY ®, TRUTH OR DARE ®, MODERN AMUSEMENT ®, BUFFALO ® and PONY ® brands. The Company licenses its brands to a network of retailers and manufacturers. Through its in-house business development, merchandising, advertising and public relations departments, Iconix manages its brands to drive greater consumer awareness and brand loyalty.

 

Forward-Looking Statements

 

In addition to historical information, this press release contains forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements include projections regarding the Company's beliefs and expectations about future performance and, in some cases, may be identified by words like "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will," "seek" and similar terms or phrases. These statements are based on the Company's beliefs and assumptions, which in turn are based on information available as of the date of this press release. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement and could harm the Company's business, prospects, results of operations, liquidity and financial condition and cause its stock price to decline significantly. Many of these factors are beyond the Company's ability to control or predict. Important factors that could cause the Company's actual results to differ materially from those indicated in the forward-looking statements include, among others: the ability of the Company's licensees to maintain their license agreements or to produce and market products bearing the Company's brand names, the Company's ability to retain and negotiate favorable licenses, the Company's ability to meet its outstanding debt obligations and the events and risks referenced in the sections titled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 and subsequent Quarterly Reports on Form 10-Q and in other documents filed or furnished with the Securities and Exchange Commission. Our forward-looking statements do not reflect the potential impact of any acquisitions, mergers, dispositions, business development transactions, joint ventures or investments we may enter into or make in the future. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements are made only as of the date hereof and the Company undertakes no obligation to update or revise publicly any forward-looking statements, except as required by law.

 

Media contact:
Jeffrey N. Wood  
Senior Vice President and Interim Chief Financial Officer  
Iconix Brand Group, Inc.  
jwood@iconixbrand.com   
212-730-0030

 

 

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