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Elizabeth Arden Reports Sales Rise

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By: Jamie Matusow

Editor-in-Chief

Global prestige beauty product company Elizabeth Arden, Inc. posted financial results for the fourth fiscal quarter and year ended June 30, 2008.

For the year ended June 30, 2008, net sales rose 1.2% to $1.14 billion. Net income dropped 3% to $38.1 million.

For the three months ended June 30, 2008, net sales at Elizabeth Arden decreased 2.6% to $236.3 million. Net income for the quarter slipped 6% to $6.3 million, as compared to the prior year period.

For fiscal 2009, the company expects net sales to increase by 12.5% to 14%. According to the company, the sales guidance assumes modest growth in the company’s U.S. and European businesses before sales contribution from the Liz Claiborne fragrance brands. In May 2008, the company announced an exclusive long-term global licensing agreement for the product line.

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