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February 3, 2006
By: TOM BRANNA
Editor
Elizabeth Arden Inc. said that second-quarter profit rose to exceed both its own and Wall Street’s targets, helped by the launch of Britney Spears and 5th Avenue fragrances. The NY-based company saw its stock add 9% to $23.42 at one point early in the session. Shares closed up 6.3% at $22.83. For the most recent quarter, the company said net income rose to $33.1 million ($1.12 a share) from $31.7 million ($1.06) a year ago. Excluding stock-option expense, earnings would have been $1.15 a share. Sales for the three months ended Dec. 31 advanced 7.1% to $346 million from $323 million in last year’s second quarter. For the fiscal 2006, Arden forecast earnings of $1.20 to $1.26 a share, or $1.33 to $1.39, excluding stock-option expense. Analysts’ estimate stands at $1.23 a share.
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