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Iconix Brand Group Acquires A 51% Interest In Buffalo Brand

Stocks in this article: ICON

The Company is raising its 2013 revenue guidance to a range of $415-$425 million from $395-$405 million.  The Company is raising its 2013 non-GAAP diluted EPS guidance to a range of $2.00-$2.10 from $1.85-$1.95, and its 2013 GAAP diluted EPS guidance to a range of $1.90-$2.00 from $1.75-$1.85.

The Company's increase in its guidance is related to the Buffalo acquisition and increased share repurchase activity. To reflect the increased share repurchases, the Company's weighted average diluted share count is estimated to be approximately 67-68 million for 2013.  Since the authorization of its current $200 million share repurchase plan, the Company has repurchased approximately $175 million or 13% of its shares outstanding. 

About Iconix Brand Group, Inc.Iconix Brand Group, Inc. owns, licenses and markets a growing portfolio of consumer brands including: CANDIE'S (R), BONGO (R), BADGLEY MISCHKA (R), JOE BOXER (R), RAMPAGE (R), MUDD (R), MOSSIMO (R), LONDON FOG (R), OCEAN PACIFIC (R), DANSKIN (R), ROCAWEAR (R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R), CHARISMA (R), STARTER (R), WAVERLY (R), ZOO YORK (R), ED HARDY (R), SHARPER IMAGE (R) and UMBRO (R).  In addition, Iconix owns interests in the ARTFUL DODGER (R), ECKO (R), MARC ECKO (R), MATERIAL GIRL (R), PEANUTS (R), TRUTH OR DARE (R) and BUFFALO (R) brands. The Company licenses its brands to a network of leading retailers and manufacturers that touch every major segment of retail distribution from the luxury market to the mass market in both the U.S. and worldwide. Through its in-house business development, merchandising, advertising and public relations departments Iconix manages its brands to drive greater consumer awareness and equity.

About BuffaloBuffalo David Bitton® is an internationally renowned lifestyle brand. Founded in 1985, Buffalo branded apparel and accessories can be found in more than 3,000 better department and specialty store locations in over 18 countries around the world. Buffalo is committed to its heritage of marketing the best quality fashion for men, women and children.

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