Iconix Brand Group Inc. is adjusting its books.

The firm said today that it decided to “restate historical financial statements based on the company’s conclusions related to the accounting treatment applied to certain transactions in connection with the previously disclosed comment letter process with the Staff of U.S. Securities and Exchange Commission.”

The company — which owns and licenses brands such as Badgley Mischka, London Fog and Ocean Pacific — has responded to the SEC’s questions and also reaffirmed its guidance for 2015 licensing revenue, adjusted earnings and free cash flow.

Peter Cuneo, Iconix’s chairman and interim chief executive officer, said: “As we have stated in the past, the comment letter process was related to highly technical accounting standards and while we are disappointed to have to restate our financial statements, as we expected, there will be no impact on free cash flow. Moving forward, we are highly focused on positioning Iconix for long-term success and are pleased to announce that our core operating business is on track to achieve our 2015 and 2016 projections. We also remain on track with our financing plans and expect to be in the position to refinance our convertible notes that mature in June 2016.”

The company said its back and forth with the SEC “was primarily related to the accounting treatment applied by the company to the formation of joint ventures….With respect to its Iconix Canada, Iconix Israel, Iconix Southeast Asia, Iconix MENA and LC Partners U.S. joint ventures, the company will revise its historical accounting treatment to consolidate the financial statements of these entities with the company’s financial statements and will eliminate the previously reported gains on sale.”

The restatements added $2.2 million to profits for the nine months ended Sept. 30, boosting the bottom line up to $47.6 million, and also cut 2014 earnings by $33.1 million to $75.1 million.

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