Interviews
News Flash
Elizabeth Arden announces Q4 & fiscal 2008 results
14 Aug '08
5 min read
Our outlook reflects the integration of the Liz Claiborne fragrances and the execution of a number of new launches, including fall introductions of a new Juicy Couture fragrance, Viva la Juicy, our first fragrance under our Rocawear license and new fragrances from Mariah Carey and Usher, as well as a spring launch of a new Elizabeth Arden fragrance."
FOURTH QUARTER RESULTS:
Net sales decreased 2.6% to $236.3 million for the three months ended June 30, 2008, from $242.7 million in the comparable period of the prior year. Excluding the favorable impact of foreign currency translation, net sales decreased 3.8%.
Net income, excluding charges, for the three months ended June 30, 2008 was $6.3 million, or $0.22 per diluted share, compared to $9.9 million, or $0.34 per diluted share, for the prior year period. On a reported basis, the net loss for the fourth quarter of fiscal 2008 was $0.38 per diluted share, compared to net income per diluted share of $0.33 for the prior year period.
OUTLOOK:
For fiscal 2009, the Company expects net sales to increase by 12.5% to 14.0%. The sales guidance assumes modest growth in the Company's U.S. and European businesses before sales contribution from the Liz Claiborne fragrance brands. Diluted earnings per share are expected to be in the range of $1.65 to $1.85. The earnings guidance is based on a full fiscal year estimated effective tax rate of 28.0%.
For the first half of fiscal 2009, the Company expects net sales to increase by 8.0% to 10.0% and diluted earnings per share to be in the range of $1.28 to $1.40. For the first quarter of fiscal 2009, the Company expects net sales to increase by 5.0% to 7.0% and earnings per share to be in the range of $0.04 to $0.08. The first quarter guidance reflects additional advertising and marketing expenses to support the fall 2008 launch activity.
The guidance excludes Liz Claiborne-related expenses and restructuring charges associated with the Company's extended supply chain, logistics and transaction processing re-engineering project. Liz Claiborne-related transition expenses are estimated at $3.5 million to $4.5 million (pre-tax) and are expected to be incurred primarily in the first fiscal quarter ending September 30, 2008.
The Company's reported gross margins for the first half of fiscal 2009 will be impacted by expenses relating to Liz Claiborne inventory purchased by the Company at a higher cost prior to the effective date of the license agreement. This non-cash expense is expected to be approximately $19.0 million (pre-tax), of which approximately $15.4 million is expected to be recorded in the first fiscal quarter.
FOURTH QUARTER RESULTS:
Net sales decreased 2.6% to $236.3 million for the three months ended June 30, 2008, from $242.7 million in the comparable period of the prior year. Excluding the favorable impact of foreign currency translation, net sales decreased 3.8%.
Net income, excluding charges, for the three months ended June 30, 2008 was $6.3 million, or $0.22 per diluted share, compared to $9.9 million, or $0.34 per diluted share, for the prior year period. On a reported basis, the net loss for the fourth quarter of fiscal 2008 was $0.38 per diluted share, compared to net income per diluted share of $0.33 for the prior year period.
OUTLOOK:
For fiscal 2009, the Company expects net sales to increase by 12.5% to 14.0%. The sales guidance assumes modest growth in the Company's U.S. and European businesses before sales contribution from the Liz Claiborne fragrance brands. Diluted earnings per share are expected to be in the range of $1.65 to $1.85. The earnings guidance is based on a full fiscal year estimated effective tax rate of 28.0%.
For the first half of fiscal 2009, the Company expects net sales to increase by 8.0% to 10.0% and diluted earnings per share to be in the range of $1.28 to $1.40. For the first quarter of fiscal 2009, the Company expects net sales to increase by 5.0% to 7.0% and earnings per share to be in the range of $0.04 to $0.08. The first quarter guidance reflects additional advertising and marketing expenses to support the fall 2008 launch activity.
The guidance excludes Liz Claiborne-related expenses and restructuring charges associated with the Company's extended supply chain, logistics and transaction processing re-engineering project. Liz Claiborne-related transition expenses are estimated at $3.5 million to $4.5 million (pre-tax) and are expected to be incurred primarily in the first fiscal quarter ending September 30, 2008.
The Company's reported gross margins for the first half of fiscal 2009 will be impacted by expenses relating to Liz Claiborne inventory purchased by the Company at a higher cost prior to the effective date of the license agreement. This non-cash expense is expected to be approximately $19.0 million (pre-tax), of which approximately $15.4 million is expected to be recorded in the first fiscal quarter.
Elizabeth Arden Inc
Popular News
Leave your Comments
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
