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European Sales Lift Elizabeth Arden Profits

The beauty company's sales in Europe rose 14 percent.

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By: Jamie Matusow

Editor-in-Chief

Cosmetics maker Elizabeth Arden Inc. posted better-than-expected earnings as sales in Europe boosted its international business. The beauty company’s European net sales rose 14 percent, while net sales in North America, the company’s biggest market, were up 6 percent.

The company raised its full-year net sales growth forecast to 3.5 percent to 4.5 percent, while maintaining its outlook of $1.15 to $1.25 in earnings per share for the year. Elizabeth Arden earned $4.9 million, or 17 cents per share, in its fiscal first quarter that ended on Sept. 30, up from $40,000, or nil cents per share, a year earlier.

Excluding restructuring and other expenses, the company earned 18 cents per share, topping analysts’ average forecast of 13 cents, according to Thomson Reuters I/B/E/S.

Sales rose 7.4 percent to $284.8 million, ahead of a Wall Street forecast of $277.4 million.

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