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By
Reuters
Published
Jan 27, 2010
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Elizabeth Arden quarterly results top expectations

By
Reuters
Published
Jan 27, 2010

CHICAGO, Jan 27 (Reuters) - Elizabeth Arden Inc's (RDEN.O) quarterly profit topped expectations as sales picked up during the quarter, but the cosmetics maker said it remains cautious about the rest of the year as retailers continue to manage inventories conservatively.


Photo: shop.elizabetharden.com

Elizabeth Arden earned $21.1 million, or 73 cents per share, in its fiscal second quarter, ended on Dec. 31, up from $13.7 million, or 48 cents per share, a year earlier.

Excluding restructuring and other expenses, the company earned 80 cents per share, topping analysts' average forecast of 72 cents, according to Thomson Reuters I/B/E/S.

Sales rose 6.3 percent to $393.3 million, also coming in ahead of Wall Street's expectations.

Elizabeth Arden now expects to earn 63 to 73 cents per share this fiscal year, up from October's forecast of 55 to 65 cents. It still expects sales to rise 2.5 to 3.5 percent in the current fiscal year, which ends in June. (Reporting by Jessica Wohl; Editing by Steve Orlofsky)

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