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8-K
ICONIX BRAND GROUP, INC. filed this Form 8-K on 03/27/2019
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Forecasted Reconciliation of Adjusted EBITDA: (1)        
($, 000's)  Year Ending 
   Dec. 31, 2019 
   Low   High 
         
Forecasted GAAP Operating Income  $73,000   $83,000 
           
Non-controlling interest   (13,500)   (13,500)
Special charges   6,500    6,500 
Depreciation and amortization   2,500    2,500 
Stock compensation   1,500    1,500 
           
Forecasted Adjusted EBITDA  $70,000   $80,000 

 

Footnotes

 

(1) Adjusted EBITDA is a non-GAAP financial measure which represents operating income (loss) excluding stock-based compensation (benefit) expense, depreciation and amortization, costs associated with recent financings, loss on termination of licenses, special charges related to professional fees incurred as a result of the correspondence with the Staff of the SEC, the SEC investigation, internal investigations, the previously disclosed class action and derivative litigations, costs related to the transition of Iconix management, the gain on the deconsolidation of joint venture, but including gains on sales of trademarks and non-controlling interest. The Company believes Adjusted EBITDA is a useful financial measure in evaluating its financial condition because it is more reflective of the Company's business purpose, operations and cash expenses. Uses of cash flows that are not reflected in Adjusted EBITDA include interest payments and debt principal repayments, which can be significant. As a result, Adjusted EBITDA should not be considered as a measure of our liquidity. Other companies that provide Adjusted EBITDA information may calculate EBITDA differently than we do. The definition of Adjusted EBITDA may not be the same as the definitions used in any of our debt agreements.

  

Adjusted EBITDA Reconciliation for the Three Months Ended Dec 31 (1):                                                                        

 

   Gaap   Trademark, Goodwill
and Investment Impairment
   Special Charges   Depreciation & Amortization   Stock Compensation   Loss on Termination of Licensees   Non-controlling Interest, net   Adjusted EBITDA 
   2018   2017   2018   2017   2018   2017   2018   2017   2018   2017   2018   2017   2018   2017   2018   2017 
Womens   (50,217)   16,689    55,059    -    -    -    -    -    (9)   28    -    -    -    (108)   4,833    16,609 
Mens   3,360    (3,336)   131    -    -    -    13    133    -    -    4,900    2,380    (2,654)   (111)   5,750    (934)
Home   1,334    1,037    2,719    4,073    -    -    -    -    7    7    -    -         -    4,060    5,117 
International   3,690    2,195    787    7,568    -    -    105    102    (17)   74    -    -    (1,032)   (955)   3,533    8,984 
Corporate   (10,259)   (34,864)   2,500    16,848    1,859    2,520    422    406    (2,278)   4,809    -    -    1,453    (565)   (6,303)   (10,846)
Total Income (Loss)   (52,092)   (18,279)   61,196    28,489    1,859    2,520    540    641    (2,297)   4,918    4,900    2,380    (2,233)   (1,739)   11,873    18,930 

 

Adjusted EBITDA Reconciliation for the Twelve Months Ended Dec 31 (1):                                                

 

   Gaap   Trademark, Goodwill and Investment Impairment   Special Charges   Debt Costs   Depreciation & Amortization   Stock Compensation   Loss on Termination of Licensees   Gain on JV deconsolidation   Non-controlling Interest, net   Adjusted EBITDA 
   2018   2017   2018   2017   2018   2017   2018   2017   2018   2017   2018   2017   2018   2017   2018   2017   2018   2017   2018   2017 
Womens   (128,050)   (215,570)   170,593    301,502    -    -    -    -    -    -    75    40    -    2,000    -    -    (117)   (382)   42,501    87,590 
Mens   11,754    (144,779)   131    137,462    -    -    -    -    90    556    -    (21)   10,550    26,360    -    -    (8,941)   (7,797)   13,584    11,781 
Home   17,221    (76,680)   2,719    101,951    -    -    -    -    -    -    30    (130)   -    -    -    -    -    -    19,970    25,141 
International   27,447    (64,826)   786    96,256    -    -    -    -    460    417    213    386    -    -    -    -    (3,948)   (4,372)   24,958    27,861 
Corporate   (47,409)   (62,796)   2,500    16,848    9,040    9,638    8,344    -    1,779    1,482    (2,723)   8,469    -    -    -    (3,772)   2,099    (4,592)   (26,370)   (34,723)
Total Income (Loss)   (119,037)   (564,651)   176,729    654,019    9,040    9,638    8,344    -    2,329    2,455    (2,405)   8,744    10,550    28,360    -    (3,772)   (10,907)   (17,143)   74,643    117,650 

 

 

 

 

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