Shares of Cherokee Inc. leaped more than 11 percent in Friday trading after the company recorded better-than-expected gains in both earnings and revenues for the fourth quarter and full year.

In the three months ended Jan. 31, the Sherman Oaks, Calif.-based brand management and licensing firm recorded net income of $1.7 million, or 19 cents a share, 74.7 percent above the $951,000, or 11 cents, recorded in the final quarter of 2013. Analysts, on average, expected EPS of 17 cents.

Revenues, nearly all in the form of royalties, rose 18.1 percent to $7.5 million from $6.4 million. The analysts’ consensus estimate was $7.4 million.

Results were reported after the markets closed on Thursday. Shares on Friday added $2.35, or 11.6 percent, to $22.67 after hitting a 52-week high of $23.39. The upward momentum came as U.S. indices slumped 1 percent or more.

Henry Stupp, chief executive officer of the company, which now does business as Cherokee Global Brands, told analysts on a Thursday evening conference call that the company was in “advanced discussions with a new Canadian retail partner” for the Cherokee brand. Target Corp., Cherokee’s direct-to-retail licensee in the U.S., had added Canada to its geographical reach with the brand but relinquished rights to Canada when it began its exit from the Canadian market in January.

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After being acquired from Quiksilver Inc. in January 2014, the Tony Hawk and Hawk brands contributed $4.8 million to 2014 revenues, about 14 percent of the total, through a licensing relationship with Kohl’s Corp.

Cherokee licensed U.K.-based omnichannel retailer Sports Direct International for the Tony Hawk brand earlier this month and Stupp said additional partnerships are expected to be cemented shortly.

In addition to Tony Hawk, Cherokee in recent years has acquired Liz Lange and bought the rights to the Cherokee school uniform business, and Stupp assured investors that additional acquisitions were being worked on.

“Our ideal acquisition candidates remain style-focused lifestyle brands with an EBITDA of $5 million and $15 million,” he said, “and high potential for international market expansion.” The international platform established by the company puts the company in a position to bring its brands to market quickly and relatively easily, the ceo commented.

For the full year, net income grew 61.7 percent to $9.8 million, or $1.15 a diluted share, while revenues added 22.2 percent to $35 million.

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