What To Expect When Iconix Reports Q4

After pushing back its March 15 extended-filing date and subsequently receiving a deficiency notice from the Nasdaq Listing Qualifications Staff last week, Iconix Brand Group Inc. is ready to report fourth-quarter and full-year earnings.

For the fourth quarter, which ended December 31, 2015, analysts predict the firm will post revenues of $93.3 million and diluted earnings per share of 27 cents.

Iconix, which has made headlines over the past 18 months due to consecutive c-suite exits, a U.S. Securities and Exchange Commission investigation and other challenges, said its delayed filing stems from its need to restate several quarters of financial statements.

Iconix is in the process of restating its historical financial statements for the fiscal years ended Dec. 31, 2013, and Dec. 31, 2014, and for the first three quarters of 2015. After discussions with SEC staff, Iconix confirmed in February that it would revise its accounting treatment to consolidate the financial statements of several international joint ventures and eliminate previously reported sales gains.

The company’s image and its shares have taken quite the hit due to the very public struggles — musician Pharrell Williams and partners Mark Badgley and James Mischka of Badgley Mischka repurchased Iconix’s stakes in their respective businesses earlier this year.

Iconix shares plunged to a 52-week low of $4.67 in January and the stock’s 50-day moving average is $8.01.

Monday’s earnings report and conference call will be the first since announcing the firm’s new CEO John Haugh, who will start in April 1.

Iconix owns and manages such brands as London Fog, Candie’s and Peanuts.

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