NEW YORK Iconix Brand Group posted mixed first-quarter results.

The company beat Wall Street’s adjusted earnings per share consensus by 12 cents, but missed on revenues projections.

For the quarter ended March 31, profits were $18.6 million, or 37 cents a diluted share, down 71.5 percent from year ago net income of $65.4 million, or $1.26. On an adjusted basis, diluted EPS was 53 cents, giving the company a 12-cent beat on Wall Street’s consensus estimate. Licensing revenue in the period slipped 1.2 percent to $94.6 million from $95.8 million last year. Wall Street was expecting revenues of $95.8 million.

The company said it generated $51.6 million of free cash flow in the quarter. It also said it recognized a net gain of $11 million related to the sale of Badgley Mischka and Iconix’s interest in BBC and Ice Cream.

For full year 2016, the company is maintaining its guidance of licensing revenue between $370 million to $390 million and GAAP diluted EPS at between 75 cents and 90 cents. It still expects free cash flow of between $155 million to $170 million. Adjusted EPS is projected to be between $1.15 and $1.30.

John Haugh, chief executive officer, said, “Overall, our portfolio of brands remains healthy with solid businesses across the women’s and home segments, a growing entertainment platform and a stabilizing men’s business.”

He said that the two months he has been at the firm has been spent understanding the business and each brand in the company’s portfolio, as well as meeting with customers and licensees and working on a go-forward strategy.

“It is clear to me that with a diversified portfolio of over 30 brands, and over 1,700 licensees worldwide, Iconix is well positioned as the industry leader to further leverage and monetize our brands and our global licensing platform,” Haugh said.

By segment, the company said licensing revenue slipped 1 percent in women’s to $38 million, followed by home, which fell 10 percent to $9.5 million. Men’s declined by 15 percent to $20.2 million, while entertainment decreased 16 percent to $27 million.

By geography, licensing revenue rose 24 percent in Japan to $10 million, but fell 5 percent in the U.S. to $62 million. Licensing revenues under the segment other for other geographic areas rose 2 percent to $22.7 million.

During the conference call to Wall Street analysts, Haugh said the company “will be focused on organic growth, both domestic and international, and we will continue to evaluate strategic acquisitions, as well.”

Haugh said the strongest performing women’s brand was Danskin. Further, the company is positioning its Candie’s brand to be the fashion authority for single women entering the workforce. Last month Sarah Hyland of “Modern Family” was named Candie’s first creative director.

The men’s brands are still undergoing a transition period. The company is expecting the full-year licensing revenue in men’s to be flat to slightly up. New products are on deck for the Mark Ecko brand and Rocawear is testing a direct-to-retail relationship.

Other executives on the call included Peter Cuneo, chairman, and Dave Jones, chief financial officer.

During the call and in response to an analyst’s query, executives noted that the company is not expecting a final sign off from the Securities and Exchange Commission until the review of the 2015 10-K is completed. “On the other side, [the] SEC investigation, you know, it’s ongoing. There’s really not too much more we can say about that one,” one of the executives, who was not identified, said.

The company was in a comment letter process with the SEC last year in connection with certain historical financial statements regarding whether they needed to be restated. In December Iconix said it had received a formal order of investigation from the SEC.

In February, Iconix said it would restate certain historical financial statements based on its conclusions related to the accounting treatment applied to some joint venture transactions under prior management. The restatements essentially concluded the SEC comment letter process. At the time, Iconix also said it “intends to fully cooperate with the SEC” in connection with its investigation.

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