Elizabeth Arden’s Earnings Rise in Fourth

Elizabeth Arden Inc. reported increased fiscal fourth-quarter earnings and sales, but forecast lower annual sales in fiscal 2002 as the company limits distribution to improve its brand cachet.

The Miami based-company, which changed its name from French Fragrances after it acquired the Elizabeth Arden business in January, reported income of $4 million, or 23 cents a diluted share, compared with $4 million, or 27 cents in the year-earlier period. The company had a larger number of shares outstanding this year.

The earnings for the quarter ended Jan. 31 include eight days of financial results from the Elizabeth Arden business, including the Elizabeth Arden line of fragrance, skin care and cosmetics products, Elizabeth Taylor fragrances, and the White Shoulders fragrances. The company recorded integration charges related to the Arden business of about $3.4 million after tax.

For fiscal 2002, Elizabeth Arden expects to achieve net sales in the range of $840 million to $870 million, down from 2001 pro forma net sales of $869.8 million, which includes the results of the combined company as if the acquisition had closed at the start of the fiscal year.