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Reuters
Published
Aug 9, 2012
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Elizabeth Arden sees 2013 profit above estimates

By
Reuters
Published
Aug 9, 2012

Beauty products maker Elizabeth Arden Inc on Thursday forecast 2013 profit above estimates on stronger sales due to a larger portfolio of fragrance brands.


Photo: Elizabeth Arden


Elizabeth Arden, known for its Prevage anti-aging creams and celebrity fragrances, expects earnings of between $2.55 to $2.70 per share, for the fiscal year ending June 2013, above the $2.37 expected by Wall Street, according to Thomson Reuters I/B/E/S.

The company, which in the spring bought licenses for fragrances for fashion brands True Religion and BCBGMAXAZRIA and music stars Justin Bieber and Nicki Minaj, expects net sales to be up 13.5 percent to 15 percent this fiscal year.

During the fourth quarter, which ended June 30, net sales rose 4.6 percent to $265.5 million, beating Wall Street targets of $263.8 million.

Net income fell to $3.6 million, or 12 cents a share, from $5.4 million, or 18 cents, a year earlier. Excluding items like the costs related to the license acquisitions, profit came to 28 cents per share, compared to 12 cents a year earlier.

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