● Beauty products maker Elizabeth Arden Inc. reported a narrower fourth-quarter loss, helped by improved sales and lower operating expenses. However, the company forecast fiscal 2007 profit below analysts’ target, due to an expected increase in marketing spending to support new products.
For the quarter ended June 30, the company reported a loss of $1.9 million versus a prior-year loss of $4.5 million. Revenue rose to $189.9 million from $187.1 million in the year earlier period, while operating expenses declined 2% to $81.3 million. Sales increased 4% to $954.6 million from $920.5 million last year.
Advertising and marketing expenses are forecast to increase 20% in fiscal 2007, as the company prepares to launch fragrances by celebrities Hillary Duff, Danielle Steele and Mariah Carey, among other new products