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Net sales hit $393 million; increase of 6%
January 28, 2010
By: Jamie Matusow
Editor-in-Chief
Global prestige beauty products company, Elizabeth Arden, Inc., has announced promising financial results for its second fiscal quarter ended December 31, 2009.The company reported net sales of $393.3 million, an increase of 6.3%, as compared to the second quarter of the prior fiscal year. Excluding the favorable impact of foreign currency translation, net sales increased by 3.3%. Net income per diluted share for the second fiscal quarter ended December 31, 2009 was $0.73, as compared to net income per diluted share of $0.48 for the prior year period. Excluding restructuring and other expenses associated with the company’s Global Efficiency Re-engineering initiative, net income per diluted share for the three months ended December 31, 2009 was $0.80, as compared to net income per diluted share of $0.61 for the prior year period. The prior year period also excludes expenses and non-cash charges related to the Liz Claiborne license agreement. A reconciliation between GAAP and adjusted results can be found in the tables and footnotes at the end of this press release. E. Scott Beattie, chairman, president and chief executive officer of Elizabeth Arden, Inc., commented, “Our results for the second quarter reflect an improved balance between shipments and retail sales at certain of our North American mass retail customers, continued strong sales performance in our Asia-Pacific business, which increased by 19% this quarter, and momentum in our travel retail business. Although we saw revenues accelerate during the second quarter, our retailers are still managing inventories conservatively and, as such, we are still using caution regarding our second half revenue projections.” Reportedly,demand was particularly strong for Juicy Couture’s Couture Couture fragrance, made by Arden. The company’s brand portfolio includes Elizabeth Arden skin care, color, and fragrance products, Prevage anti-aging treatments, the celebrity fragrance brands of Elizabeth Taylor, Mariah Carey, Britney Spears, Hilary Duff, and Usher; the designer fragrance brands of Juicy Couture, Alberta Ferretti, Alfred Sung, Badgley Mischka, Bob Mackie, Gant, Geoffrey Beene, Liz Claiborne, Halston, Lucky Brand, Nanette Lepore and Rocawear; and the lifestyle fragrance brands Curve, Giorgio Beverly Hills, and PS Fine Cologne.
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