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Elizabeth Arden Q4 net sales up 27.8%
17 Aug '07
3 min read
Elizabeth Arden Inc, a global prestige beauty products company announced financial results for the fourth quarter and fiscal year ended June 30, 2007.
Fourth Quarter Results:
Net sales increased 27.8% to $242.7 million for the three months ended June 30, 2007 from $189.9 million in the comparable period of the prior year. Net sales growth was due to increased sales of prestige fragrances to mass retail customers, primarily driven by sales of new fragrance brands, and higher sales in international markets. Excluding the favorable impact of foreign currency translation, net sales increased 26.1%.
Net income for the three months ended June 30, 2007 was $9.9 million, or $0.34 per diluted share. This compares to a net loss in the same period last year of $1.0 million, or $0.04 per diluted share. Results for the current year period reflect an annual effective tax rate of 16.7%.
Assuming the previously anticipated annual effective tax rate of 25.6%, earnings for the fourth fiscal quarter would have been $0.20 per diluted share. On a reported basis, net earnings for the fourth quarter of fiscal 2007 were $0.33 per diluted share, and the net loss for the prior year period was $0.07 per diluted share.
Earnings for the current year period exclude restructuring charges of $0.01 per diluted share, and earnings for the prior year period exclude restructuring charges of $0.03 per diluted share.
E. Scott Beattie, Chairman, President and Chief Executive Officer of Elizabeth Arden Inc, commented, "The trends that drove our business for most of fiscal 2007 continued into the fourth quarter. We finished the year with strong performance across all of our business units."
Fourth Quarter Results:
Net sales increased 27.8% to $242.7 million for the three months ended June 30, 2007 from $189.9 million in the comparable period of the prior year. Net sales growth was due to increased sales of prestige fragrances to mass retail customers, primarily driven by sales of new fragrance brands, and higher sales in international markets. Excluding the favorable impact of foreign currency translation, net sales increased 26.1%.
Net income for the three months ended June 30, 2007 was $9.9 million, or $0.34 per diluted share. This compares to a net loss in the same period last year of $1.0 million, or $0.04 per diluted share. Results for the current year period reflect an annual effective tax rate of 16.7%.
Assuming the previously anticipated annual effective tax rate of 25.6%, earnings for the fourth fiscal quarter would have been $0.20 per diluted share. On a reported basis, net earnings for the fourth quarter of fiscal 2007 were $0.33 per diluted share, and the net loss for the prior year period was $0.07 per diluted share.
Earnings for the current year period exclude restructuring charges of $0.01 per diluted share, and earnings for the prior year period exclude restructuring charges of $0.03 per diluted share.
E. Scott Beattie, Chairman, President and Chief Executive Officer of Elizabeth Arden Inc, commented, "The trends that drove our business for most of fiscal 2007 continued into the fourth quarter. We finished the year with strong performance across all of our business units."
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