Xcel Brands Posts Higher Q2 Profit

(RTTNews) - Xcel Brands, Inc. (XELB) reported net income for the second quarter of $2.1 million or $0.13 per share, compared to $0.4 million or $0.03 per share for the same quarter last year.

Income from continuing operations for the second quarter was $2.2 million or $0.14 per share, compared to $0.6 million or $0.05 per share in the year-ago quarter.

Excluding items, adjusted earnings for the second quarter were $1.1 million or $0.07 per share, compared to $2.0 million or $0.16 per share in the prior year quarter.

Total revenue for the second quarter rose to $6.3 million from $6.1 million a year ago, mainly driven by increases in net licensing revenues.

Analysts polled by Thomson Reuters expected the company to earn $0.05 per share on revenue of $7.66 million for the second quarter. Analysts' estimates typically exclude special items.