britneybaby
Feb 2nd, 2006, 09:29 AM
http://www.investors.com/breakingnews.asp?journalid=34416485&brk=1
Elizabeth Arden profit, sales top estimates
By Dan Burrows
Last Updated: 2/2/2006 10:48:58 AM
NEW YORK (MarketWatch) -- Cosmetics company Elizabeth Arden Inc. said Thursday that second-quarter profit rose to surpass both its own and Wall Street's targets, helped by the launch of Britney Spears and 5th Avenue fragrances.
Arden (RDEN), based in New York, saw its stock add more than 8% to $23.24 at one point early in the session.
For the most recent quarter, the company said net income rose to $33.1 million, or $1.12 a share, from $31.7 million, or $1.06, a year ago. Excluding stock-option expense, earnings would have been $1.15 a share.
Sales for the three months ended Dec. 31 advanced 7.1% to $346 million from $323 million in last year's second quarter.
Analysts polled by Thomson First Call forecast earnings, on average, of $1.07 on sales of $343.2 million.
"Better sales and operating margin drove the upside. Importantly, the company showed significant progress in reducing inventory," said Goldman Sachs analyst Amy Low Chasen in a note to clients.
For the fiscal 2006, Arden forecast earnings of $1.20 to $1.26 a share, or $1.33 to $1.39, excluding stock-option expense. Analysts' estimate stands at $1.23 a share.
Elizabeth Arden profit, sales top estimates
By Dan Burrows
Last Updated: 2/2/2006 10:48:58 AM
NEW YORK (MarketWatch) -- Cosmetics company Elizabeth Arden Inc. said Thursday that second-quarter profit rose to surpass both its own and Wall Street's targets, helped by the launch of Britney Spears and 5th Avenue fragrances.
Arden (RDEN), based in New York, saw its stock add more than 8% to $23.24 at one point early in the session.
For the most recent quarter, the company said net income rose to $33.1 million, or $1.12 a share, from $31.7 million, or $1.06, a year ago. Excluding stock-option expense, earnings would have been $1.15 a share.
Sales for the three months ended Dec. 31 advanced 7.1% to $346 million from $323 million in last year's second quarter.
Analysts polled by Thomson First Call forecast earnings, on average, of $1.07 on sales of $343.2 million.
"Better sales and operating margin drove the upside. Importantly, the company showed significant progress in reducing inventory," said Goldman Sachs analyst Amy Low Chasen in a note to clients.
For the fiscal 2006, Arden forecast earnings of $1.20 to $1.26 a share, or $1.33 to $1.39, excluding stock-option expense. Analysts' estimate stands at $1.23 a share.