Key Developments For Elizabeth Arden, Inc.
Elizabeth Arden, Inc. (RDEN.O) (Nasdaq)
Elizabeth Arden, Inc. Issues Q2 2010 Guidance In Line With Analysts' Estimates; Revises FY 2010 Revenue Guidance To A Range Above Analysts' Estimates; Raises Low End Of Prior FY 2010 EPS Guidance
Elizabeth Arden, Inc. announced that for second quarter 2010 it expects net sales of $380 million to $390 million and net income per diluted share of $0.65 to $0.75. The Company is updating its fiscal 2010 net sales and earnings guidance and now expects net sales increase of 2.5% to 3.5%, as compared to the prior fiscal year, and earnings per diluted share to be in the range of $0.55 to $0.65. The Company reported revenue of $1.070 billion for fiscal 2008. According to Reuters Estimates, analysts are expecting the Company to report revenue of $385 million and EPS of $0.69 for second quarter 2010; revenue of $1.093 billion and EPS of $0.59 for fiscal 2010.
Elizabeth Arden, Inc. Reaffirms H2 2009 Outlook; Issues FY 2009 Outlook
Elizabeth Arden, Inc. announced that for the second half of 2009, it is maintaining its outlook provided earlier and currently expects net sales to decrease by 1% to 3%, or to increase by 1.5% to 3.5% excluding an expected unfavorable impact of foreign currency, as compared to the second half of the fiscal 2008, and for earnings per diluted share (EPS) to be in the range of $0.01 to $0.13. This guidance assumes the anticipated contribution from the continued roll-out of the Liz Claiborne fragrances and the second half global launch of the new Elizabeth Arden fragrance, Pretty, and the comparatively weak third and fourth fiscal quarter performance in the prior year. For fiscal 2009, the Company's guidance is for net sales to decline by 4% to 5%, or 1% to 2% excluding an expected unfavorable impact from foreign currency, as compared to the prior year period, and for earnings per diluted share to be in the range of $0.71 to $0.84. According to Reuters Estimates, analysts were expecting the Company to report EPS of $(0.07) and $0.13 for the third and fourth quarters of 2009; EPS of $0.76 for fiscal 2009.
Elizabeth Arden, Inc. Issues Q2, H2 2009 Outlook; Revises FY 2009 Outlook
Elizabeth Arden, Inc. announced that for the second quarter of 2009, it expects to report net sales in the range of $365 million to $370 million. Net income, excluding expenses related to the Liz Claiborne license agreement and restructuring expenses, is expected to range between $0.57 to $0.61 per diluted share, or $0.72 to $0.76 per diluted share (EPS), excluding the estimated unfavorable impact of foreign currency of approximately $0.15 per diluted share. For the second half of 2009, it expects net sales to decrease by 1% to 3%, or to increase by 1.5% to 3.5% excluding the unfavorable impact of foreign currency, as compared to the second half of 2008, and for EPS to be in the range of $0.01 to $0.13. For fiscal 2009, the Company expects net sales to decline by 4% to 5%, or to decline by 1% to 2% excluding an expected unfavorable impact from foreign currency, as compared to the prior year period, and for earnings per diluted share (EPS) are expected to be in the range of $0.71 to $0.84, or $0.94 to $1.07 excluding an expected unfavorable impact from foreign currency of $0.23 per diluted share. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.94 on revenue of $433 million for the fourth quarter of 2009; EPS of $0.09 and $0.33 on revenue of $238 and $270 million for the third and fourth quarters of 2009 respectively; EPS of $1.48 on revenue of $1.227 billion for fiscal 2009.
Elizabeth Arden, Inc. Announces Extension Of Its Common Stock Repurchase Plan
Elizabeth Arden, Inc. announced that the Company's $80 million common stock repurchase plan was set to expire on November 30, 2008. As such, on November 5, 2008, the Company's Board of Directors authorized the extension of its common stock repurchase plan at the same $80 million limit to November 30, 2010. Under the program, the Company may, from time to time, purchase shares of its common stock in the open market or in privately negotiated transactions based on such factors as the Company deems appropriate.
Elizabeth Arden, Inc. Lowers H1, FY 2009 Guidance
Elizabeth Arden, Inc. announced that it has revised its guidance for the first half and fiscal 2009. The Company currently expects reported net sales to increase by 1.0% to 3.5% for the first half of fiscal 2009 and to increase by 6.5% to 8.5% for fiscal 2009. Excluding the unfavorable impact of foreign currency translation, the Company expects net sales to increase by 3.5% to 6.0% for the first half of 2009 and by 9.5% to 11.5% for fiscal 2009. The Company expects diluted earnings per share to range between $1.18 to $1.28 for the first half of fiscal 2009 and to range between $1.50 and $1.75 for fiscal 2009, excluding an expected unfavorable impact from foreign currency translation of $0.18 for the first half of fiscal 2009 and $0.08 for the full fiscal year, assuming current rates. This compares to original guidance of $1.28 to $1.40 for the first half of fiscal 2009 and $1.65 to $1.85 for the full fiscal year.
