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Elizabeth Arden confirms fiscal 2008 earnings guidance

01 Feb '08

3 min read

"For the balance of this year, we expect softness in North America and continued strength in our international business. Our expectations for our international performance are based on the prior investments we have made to expand and improve profitability, particularly in Europe, Asia Pacific and Travel Retail."

The Company's key focus continues to be on improving operating margins, cash flow from operations and return on invested capital. The Company expects that the initiatives it began implementing last year, particularly in its extended supply chain and logistic areas, and improved growth and profitability in its international business, will allow it to achieve its cash flow and earnings targets this year despite slower net sales growth.

The Company has already realized approximately 70% of its expected annual earnings guidance through the first half of its fiscal year. During January 2008, the Company collected over $100 million from customers, allowing it to significantly reduce its accounts receivables balance and reduce its credit facility borrowings to under $90 million.

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Elizabeth Arden Inc

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