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Elizabeth Arden's Annual Sales Up 11.5%



Published August 6, 2004
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Elizabeth Arden Inc. announced net sales grew 17.2% to $154.6 million for the fourth quarter ended June 30, 2004. They were driven by the launch of the Elizabeth Arden Provocative Woman fragrance in April, improved travel retail performance and the favorable impact of foreign currency rates, executives said.

For the year ended June 30, net sales increased 11.5% to $832.0 million and earnings per share was up to $1.01 from $0.34 the year prior.

E. Scott Beattie, chairman and chief executive officer of Elizabeth Arden, Inc., commented, "Performance has been solid across all of our selling units, and retail sales globally continue to support our revenue and earnings targets for this fiscal year. The significant top line growth, the benefits of all of our refinancing activities and strong working capital management led to a $25 million, or 35%, improvement in our cash flow from operations for this five month transition period, despite investing significantly in our brands. From an operational standpoint, the consolidation of our distribution facilities has already begun contributing to our results, and we are on track to deliver our expected full year savings."

The company anticipates the next fiscal year will see net sales increase to $900-910 million and diluted earnings per share grow to $1.24-1.28.


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