Elizabeth Arden branded skin care & color products net sales go up
01 Feb '07
2 min read
Elizabeth Arden Inc announced financial results for the fiscal 2007 second quarter ended December 31, 2006.
Second Quarter Results: Net sales increased 18.8% to $410.8 million for the three months ended December 31, 2006 from $345.9 million in the comparable period of the prior year.
Sales growth was driven by a significant increase in fragrance brands sold to the Company's mass retail customers, sales of new brands, including the With Love...Hilary Duff fragrance and the fragrance brands resulting from the June 2006 Riviera Concepts acquisition.
In addition, higher sales of the Company's Elizabeth Arden branded skin care and color products and growth in the Company's businesses in China and Taiwan contributed to the net sales increase. Excluding the favorable impact of foreign currency translation, net sales increased 17.3%.
Net income for the three months ended December 31, 2006 was $26.2 million, or $0.92 per diluted share, excluding previously announced restructuring charges of $0.3 million after taxes related to the Company's restructuring in its European operations, compared to net income of $33.1 million, or $1.12 per diluted share, in the same period last year.
On a reported basis, net income was $25.9 million, or $0.91 per diluted share. As previously announced, the Company's earnings for the second quarter of fiscal 2007 were impacted by transition and integration expenses associated with the Company's recent acquisitions.
marketing@alchempro.com
