Sequential Brands Group shares rose 5% on Thursday after the company reported Q2 non-GAAP earnings of $0.12 per share, up from $0.06 a year ago, and exceeding the $0.08 average estimate from analysts polled by Capital IQ. Revenue rose to $42.1 million from $34.2 million and exceeded the $39.2 million estimate.
For the FY, Sequential said it still expects revenue of $170 million to $175 million, straddling the $173 million estimate. Meanwhile, the company said CFO Gary Klein is stepping down at the end of August and Andrew Cooper will assume the role on an interim basis while Sequential searches for a permanent replacement. Separately, Gannet Co’s USA Today Network said it has struck a deal to license Sequential’s Martha Stewart Brand in connection with the USA Today Networks’ Food & Wine Experience event series.