Iconix Refinances, Takes Trademark Hit
4 monthes ago - By WWD
Steep trademark impairment charges pushed Iconix Brand Group Inc. further into the red last year - but the company gained some crucial breathing room with a refinancing.
The brand management firm's net loss widened to $489.3 million, or $8.66 a share, from $242.1 million, or $4.82, in 2016. The bottom line last year was hit hard by $525.7 million in trademark charges and $103.9 million in goodwill impairment charges.
(During the last three years combined, the company has written down the value of its trademarks with impairment charges totaling $1.35 billion).
Licensing revenues for the 12...
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