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Elizabeth Arden delivers 'fragrant' fiscal 2007 Q3

04 May '07

4 min read

Mr. Beattie continued, "During the third quarter we also integrated the remaining functions related to the acquisition of Sovereign Sales."

"With the transition costs essentially behind us, we expect the acquisitions, along with a strong pipeline of new fragrance brands for the U.S. mass retail market, to contribute to improved operating earnings and earnings growth for the balance of this fiscal year and fiscal 2008."

For the nine months ended March 31, 2007, net sales rose 15.7% to $884.8 million from $764.6 million for the nine months ended March 31, 2006. Excluding the favorable impact of foreign currency translation, net sales increased 14.5%. Net income was $27.7 million, or $0.97 per diluted share, versus $34.7 million, or $1.17 per diluted share, for the year-ago period.

The results for the nine months ended March 31, 2007 include restructuring charges of $0.05 per diluted share related to the Company's previously announced restructuring, and results for the prior nine-month period include debt extinguishment charges of $0.02 per diluted share.

The Company confirms its fiscal 2007 net sales and earnings guidance and expects diluted earnings per share in the range of $1.15 to $1.20 and net sales to increase by 15% to 18% over prior fiscal year net sales of $954.6 million. The Company notes that it utilizes foreign currency hedges and that its net sales guidance is based on current foreign currency rates. The earnings guidance reflects no change to the full fiscal year anticipated effective tax rate of 25.6%. The earnings guidance also excludes restructuring charges.

The Company will host a conference call at 4:30 p.m. Eastern Time. All interested parties can listen to a live web cast of the Company's conference call by logging on to the Company's web site. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company's web site until June 3, 2007.

The Company will host a conference call at 4:30 p.m. Eastern Time. All interested parties can listen to a live web cast of the Company's conference call by logging on to the Company's web site. An online archive of the broadcast will be available within one hour of the completion of the call and will be accessible on the Company's web site until June 3, 2007.

Elizabeth Arden Inc

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