Print Page  Close Window

8-K
ICONIX BRAND GROUP, INC. filed this Form 8-K on 03/27/2019
Entire Document
 << Previous Page | Next Page >>

 

 

GAAP net loss from continuing operations attributable to Iconix for the full year 2018 reflects a loss of $100.5 million as compared to a loss of $535.3 million for the full year 2017. GAAP diluted EPS from continuing operations for the full year 2018 reflects a loss of $15.73 as compared to a loss of $94.71 for the full year 2017.

 

Reverse Stock Split - On March 14, 2019, the Company effected a 1-for-10 reverse stock split (the “Reverse Stock Split”) of its common stock. No fractional shares were issued in connection with the Reverse Stock Split. Stockholders who otherwise would have been entitled to receive fractional shares of common stock had their holdings rounded up to the next whole share. All share and per share amounts in this press release have been adjusted to reflect the Reverse Stock Split.

 

2019 Guidance:

 

·Full year revenue guidance of $145 million - $160 million.

 

·GAAP operating income guidance of $73 million - $83 million.

 

·Full year adjusted EBITDA guidance of approximately $70 million - $80 million.

 

GAAP net income will be affected by non-cash adjustments to the then-current fair value of the Company's 5.75% Convertible Notes as discussed above. Such periodic adjustments to fair value cannot be estimated in advance and thus are not taken into account in guidance.

 

Adjusted EBITDA (1):

 

Adjusted EBITDA for the fourth quarter of 2018 was $11.9 million as compared to $18.9 million for the fourth quarter of 2017. Adjusted EBITDA for the full year 2018 was $74.6 million as compared to $117.7 million for the full year 2017.

 

Adjusted EBITDA: (1)

($, 000's)                                    

 

   Three Months Ended December 31,   Twelve Months Ended December 31, 
   2018   2017   % Change   2018   2017   % Change 
                         
GAAP Operating Income   (52,092)   (18,280)   185%   (119,037)   (564,651)   -79%
                               
Add:                              
stock-based compensation (benefit) expense   (2,297)   4,919         (2,405)   8,744      
depreciation and amortization   540    640         2,329    2,455      
loss on termination of licenses   4,900    2,380         10,550    28,360      
trademark, goodwill and investment impairment   61,196    28,489         176,729    654,019      
special charges   1,859    2,520         9,040    9,638      
costs associated with recent debt financings   -    -         8,344    -      
gain on deconsolidation of JV   -    -         -    (3,772)     
non-controlling interest related to depreciation and amortization and trademark, goodwill and investment impairments   (15)   (66)        (55)   (39,320)     
non-controlling interest   (2,218)   (1,673)        (10,852)   22,177      
    63,965    37,209         193,680    682,301      
                               
Adjusted EBITDA   11,873    18,929    -37%   74,643    117,650    -37%

 

 

 << Previous Page | Next Page >>