* Q4 adj EPS $0.30 in line with Street
* Q4 revenue $65.8 mln vs est $59.7 mln
* Shares fall 3 pct
(Recasts; adds details, share movement)
Feb 23 Iconix Brand Group Inc's (ICON.O)
fourth-quarter profit met market estimates, helped by a rise in
licensing revenue and the success of its direct to retail
channels, and the company held on to its 2010 profit view.
The New York-based company, which owns and licenses brands
including Candie's, Joe Boxer and Badgley Mischka, launched
five new direct-to-retail partnerships in the United States and
renewed four contracts for the same in 2009.
"We have strengthened our balance sheet and today have
approximately $230 million of cash available to be
opportunistic in the pursuit of acquisitions," Chief Executive
Neil Cole said in a statement.
During the quarter, the company earned $19.7 million, or 27
cents a share, compared with $15.3 million, or 25 cents a share
a year ago.
However, on an adjusted basis, it posted a profit of 30
cents a share, the same as the market consensus, according to
Thomson Reuters I/B/E/S.
Revenue rose 21 percent to $65.8 million.
The company, whose brands are sold at WalMart Stores Inc
(WMT.N), Target Corp (TGT.N) and Kohl's Corp (KSS.N), also
backed its 2010 forecast for earnings of between $1.25 a share
and $1.30 a share.
Iconix shares were down 3 percent at $13.39 Tuesday morning
(Reporting by Nivedita Bhattacharjee in Bangalore; Editing by
Anthony Kurian, Anne Pallivathuckal)