By  on May 4, 2018

Shares of Iconix Brand Group Inc. rose 12.9 percent in midafternoon trading after the company reported first-quarter earnings that showed the company ended the period in the black.

For the three months ended March 31, the company posted net income of $32.7 million, or 51 cents a diluted share, from a net loss of $4.3 million, or 9 cents, a year ago. GAAP diluted earnings per share from continuing operations for the quarter were 51 cents, versus 6 cents a year ago. Licensing revenues slipped 17 percent to $48.5 million from $58.7 million.

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