Elizabeth Arden Inc Announces Acquisition of Licenses for Justin Bieber and Nicki Minaj Fragrance Brands; Reaffirms FY 2012 Guidance

Elizabeth Arden Inc announced that it has acquired the global licenses and certain related assets for the Justin Bieber and Nicki Minaj fragrance brands from Give Back Brands. Terms of the transaction were not disclosed. The Company also announced that excluding the impact of this transaction, the Company confirmed its fiscal 2012 guidance for net sales growth of 5% to 5.5% over the prior fiscal year and net income per diluted share of $1.95 to $2.00. This guidance also excludes any expenses related to the acquisition of the Ed Hardy, True Religion and BCBGMAXAZRIA fragrance licenses mentioned in the Company's press release dated May 31, 2012. The Company reported revenue of $1.176 billion in fiscal 2011. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $ 1.237 billion and EPS of $2.00 for fiscal 2012