Elizabeth Arden, Inc. Announces Second Quarter Fiscal 2011 Results

GAAP EPS of $1.19 and Adjusted EPS of $1.20; Increase of 50%

Raises Fiscal 2011 Adjusted EPS Guidance Range to $1.40 to $1.50

NEW YORK, Feb. 3, 2011 (GLOBE NEWSWIRE) -- Elizabeth Arden, Inc. (Nasdaq:RDEN), a global prestige beauty products company, today announced financial results for its second fiscal quarter ended December 31, 2010.

SECOND QUARTER RESULTS

For the quarter ended December 31, 2010, the Company reported net sales of $405.6 million, an increase of 3.1%, as compared to the second quarter of the prior fiscal year. Excluding the unfavorable impact of foreign currency translation, net sales increased by 3.5%.

Net income per diluted share for the quarter ended December 31, 2010 was $1.19, as compared to net income per diluted share of $0.73 for the prior year period. Excluding expenses associated with the Company's Global Efficiency Re-engineering initiative, net income per diluted share for the three months ended December 31, 2010 was $1.20. For the prior year period, net income per diluted share excluding Global Efficiency Re-engineering and restructuring expenses was $0.80. A reconciliation between GAAP and adjusted results can be found in the tables and footnotes at the end of this press release.

E. Scott Beattie, Chairman, President and Chief Executive Officer of Elizabeth Arden, Inc., commented, "The momentum we saw in our business through the first quarter continues. Sales and earnings results were ahead of our prior guidance, driven primarily by the continued strong performance of our international business. In constant currencies, net sales of our international business increased by 12%, while net sales in North America were flat. We saw strong net sales increases in our mass retail and direct-to-consumer businesses that offset declines in our U.S. department store fragrance business, which were largely anticipated. Notably, through the second fiscal quarter, both gross margins and EBITDA margins increased by over 200 basis points on a year over year basis, underscoring the strong impact of our re-engineering initiatives."