Elizabeth Arden, Inc. posted financial results for its fourth fiscal quarter and year ended June 30, 2009. For the quarter, net sales fell 10% to $212.6 million. For the year ended June 30, 2009, net sales slipped 6.2% to $1.07 billion.

E. Scott Beattie, chairman, president and chief executive officer of Elizabeth Arden, Inc., commented, "We finished fiscal 2009 as we had anticipated, and while it was a challenging year, we accomplished a great deal. Our Global Efficiency Re-engineering initiative allowed us to improve gross margins, reduce inventories by $90 million year over year, and generate cash flow from operations of $37 million.

"Our brand innovation also experienced global success, including the recently launched Elizabeth Arden fragrance, Pretty Elizabeth Arden, which was the number two woman's fragrance launch through June 2009 in the U.S. and is doing well internationally, and Viva la Juicy, which was the number one launch last fall in the U.S. and contributed to the continued global expansion and success of the Juicy Couture fragrance franchise."

Mr. Beattie continued, "During fiscal 2009, the Company completed a comprehensive multi-year planning process to systematically improve gross margins, EBITDA margins, organic brand growth and return on invested capital. I am confident that each of these initiatives is well thought through, measurable and has traction as we enter fiscal 2010. In fact, we have begun to benefit from these initiatives during fiscal 2009 with steadily improved gross margin, improved customer service levels, reduced inventory and solid operating cash flow generation.

"Unfortunately, the continued gap between retail sales and inventory replenishment will delay the impact these improvements will have on operating results. As retailer inventory replenishment improves, operating earnings should accelerate considerably."

For the first quarter of fiscal 2010, the company expects net sales of $255-$265 million.