Licensing revenue at US clothing marketer Iconix Brand Group was approximately $87.1 million in the three months to December 31, 2017, down 8 per cent as against $94.7 million in the prior year’s fourth quarter. In the fourth quarter of 2016, there was a slight positive impact from foreign currency exchange rates primarily related to the Japanese yen.

Sales in the fourth quarter of 2015 included around $1.3 million of licensing revenue from the Badgley Mischka brand, for which there was no comparable revenue in the fourth quarter of 2016, due to its sale in the first quarter of 2016.

“Excluding Badgley Mischka and the currency impact, revenue was down approximately 7 per cent year on year for the reporting quarter.

For the full year of 2017, the company expects revenue to be in a range of approximately $350 million to $365 million and GAAP EPS to be in a range of $0.43 to $0.58.

It also expects to generate free cash flow of approximately $105 million to $125 million in 2017.