E.L.F. sales rise 24% in fourth quarter
Oakland, California-based cosmetics company E.L.F. Beauty announced fourth-quarter net sales of $92.7 million on Wednesday, representing an increase of 24% from $74.7 million in the prior-year period and the company’s ninth consecutive quarter of revenue growth.
The company’s top-line growth in the fourth quarter ended March 31, 2021, was primarily driven by strength in its e-commerce business, as well as at its international and national retailers.
E.L.F.’s net loss for the quarter came to $24,000, or $0.00 per diluted share, compared to a loss of $341,000, or $0.01 per diluted share, in the same period in the previous year.
For the full fiscal year, E.L.F. reported net sales of $318.1 million, up 12% from $282.9 million in the previous year. Annual net income was $6.2 million, or $0.12 per diluted share, compared to $17.9 million, or $0.35 per diluted share.
“Our fiscal 2021 results demonstrate that our business model and competitive advantages are robust, as we strengthened our position in a challenging environment,” said E.L.F. chairman and CEO Tarang Amin in a release. “For the year, E.L.F. Cosmetics was the only top 5 U.S. color cosmetics brand to post growth and gain share.”
“We’re pleased with our outstanding results and believe that we can continue our business momentum in fiscal 2022 as we advance our transformation to a multi-brand portfolio,” commented E.L.F. CFO Mandy Fields. “We currently expect net sales growth of 8-10% in fiscal 2022 – at the top end of our long-term economic model.”
Looking forward, the company, which along with its namesake E.L.F. brand, owns W3LL PEOPLE and Alicia Keys’ Keys Soulcare brand, expects to achieve full-year revenues of between $343 million and $350 million in fiscal 2022.
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