Elizabeth Arden, Inc. is a global marketer and manufacturer of prestige beauty products. The Company's portfolio of fragrance brands includes Elizabeth Arden's Red Door, 5th Avenue, Elizabeth Arden green tea and Sunflowers, Elizabeth Taylor's White Diamonds and Passion, White Shoulders, Geoffrey Beene's Grey Flannel, Halston, Halston Z-14, PS Fine Cologne for Men, Design and Wings by Giorgio Beverly Hills 
http://shop.elizabetharden.com/

For the first half of fiscal 2009, the Company expects net sales to increase by 8.0% to 10.0% and diluted earnings per share to be in the range of $1.28 to $1.40. For the first quarter of fiscal 2009, the Company expects net sales to increase by 5.0% to 7.0% and earnings per share to be in the range of $0.04 to $0.08. The first quarter guidance reflects additional advertising and marketing expenses to support the fall 2008 launch activity. 
The guidance excludes Liz Claiborne-related expenses and restructuring charges associated with the Company's extended supply chain, logistics and transaction processing re-engineering project. Liz Claiborne-related transition expenses are estimated at $3.5 million to $4.5 million (pre-tax) and are expected to be incurred primarily in the first fiscal quarter ending September 30, 2008. The Company's reported gross margins for the first half of fiscal 2009 will be impacted by expenses relating to Liz Claiborne inventory purchased by the Company at a higher cost prior to the effective date of the license agreement. This non-cash expense is expected to be approximately $19.0 million (pre-tax), of which approximately $15.4 million is expected to be recorded in the first fiscal quarter. 
The Company notes that it utilizes foreign currency hedges which are reflected in its results and guidance. As noted, the Company's guidance is based on a number of assumptions, including those regarding the current retail environment and consumer confidence levels and anticipated improvement in operating performance. 
 

Elizabeth Arden, Inc. Announces Third Quarter Fiscal 2008 Results 
Net Sales of $211 million; Net Loss per Share of $0.10 (Excluding Charges)
Year to Date EPS Increase of 7% to $1.09 per Diluted Share (Excluding Charges) 
NEW YORK, May 1, 2008 (PRIME NEWSWIRE) -- Elizabeth Arden, Inc. (Nasdaq:RDEN), a global prestige beauty products company, today announced financial results for the third fiscal quarter and nine months ended March 31, 2008. 
THIRD QUARTER RESULTS 
Net sales decreased 4.0% to $210.6 million for the three months ended March 31, 2008, from $219.2 million in the comparable period of the prior year. Excluding the favorable impact of foreign currency translation, net sales decreased 5.9%. Net sales results reflect weakness in the consumer and retail environment in North America and in the United Kingdom. 
Net loss for the three months ended March 31, 2008, excluding restructuring charges, was $2.9 million, or $0.10 per share. This compares to net income, excluding restructuring charges, in the same period last year of $3.3 million, or $0.11 per diluted share. On a reported basis, the net loss was $3.8 million, or $0.14 per diluted share, compared to net income of $3.2 million, or $0.11 per diluted share, for the prior year period. In addition, the Company's reported results were negatively impacted by currency hedges established in 2007 when the U.S. dollar was stronger. 
E. Scott Beattie, Chairman, President and Chief Executive Officer of Elizabeth Arden, Inc., commented, "Despite a weak consumer and retail environment, we were still disappointed with our results this quarter. While we were not expecting any improvement in the retail environment this past quarter in North America, we did not anticipate the extent of the negative retail sales trends. The pace of our international business, particularly in the U.K., slowed this past quarter, after delivering 20% growth in the first half of this fiscal year, and was not able to offset these negative trends. That said, we are pleased to end the quarter with a strengthened balance sheet. Inventory was on plan and well controlled, and we generated better than expected cash flow for the period. Cash flow from operations, after adjusting for the Sovereign Sales acquisition in fiscal 2007, has increased by $52 million through our third fiscal quarter, and we used this cash to reduce our credit line and repurchase shares under our share repurchase program." 
Mr. Beattie continued, "For the balance of the year, we remain cautious with respect to our business in North America and the developed markets in Europe. We do expect this softness to be offset somewhat by a solid pipeline of new brands to North American retailers and continued excellent performance in the Asia Pacific region and in our travel retail and developing markets, which now represent over 50% of our international business." 
The Company also announced that it has substantially completed the comprehensive review of its global business processes that it announced and commenced in fiscal 2007 to re-engineer its extended supply chain, logistics and transaction processing systems ("Global Efficiency Engineering"). The inventory reduction initiatives and other programs that have been implemented as part of the Company's Global Efficiency Engineering have been well executed and have so far achieved their targets. As a result, the Company has decided to accelerate the re-engineering of its extended supply chain functions as well as the realignment of other parts of the organization to best support its new business processes. 
In connection with the Global Efficiency Engineering, the Company is migrating to a new enterprise software application, the Oracle/JD Edwards enterprise software application to improve key transaction processes and accommodate anticipated growth of its business. This infrastructure investment is expected to simplify the Company's transaction processing by utilizing a common platform to centralize all of its global transaction processing functions. 
In connection with the acceleration of the re-engineering of its extended supply chain functions and the implementation of the JD Edwards transaction processing system, the Company is announcing a restructuring plan to be implemented over the next 18 to 24 months. The Company currently estimates that these activities will result in savings of approximately $10.0 million to $12.0 million during fiscal 2009 and approximately $13.0 million to $15.0 million during fiscal 2010. The restructuring and one-time expenses associated with these activities include one-time severance related, relocation, recruiting and temporary staffing expenditures, and are expected to be incurred primarily in fiscal years 2009 and 2010. These expenses are currently estimated to be approximately $12.0 million to $14.0 million before taxes, of which $1.1 million is expected to be recorded in the fourth quarter of fiscal 2008. 

Elizabeth Arden, Inc. Announces Second Quarter Fiscal 2008 Results
Diluted EPS Increases 25 Percent to $1.15
Confirms Fiscal 2008 Earnings Guidance
NEW YORK, Jan. 31, 2007 (PRIME NEWSWIRE) -- Elizabeth Arden, Inc. (Nasdaq:RDEN), a global prestige beauty products company, today announced financial results for the second fiscal quarter and six months ended December 31, 2007.
SECOND QUARTER RESULTS
Net sales increased 2.8% to $422.4 million for the three months ended December 31, 2007, from $410.8 million in the comparable period of the prior year. Net sales growth is a result of increased sales in international markets across all brand categories and the global launch of the M by Mariah Carey fragrance. Excluding the favorable impact of foreign currency translation, net sales increased 0.5%.
Net income for the three months ended December 31, 2007 was $33.8 million, or $1.15 per diluted share. This compares to net income in the same period last year of $25.9 million, or $0.91 per diluted share. Excluding restructuring charges, net earnings for the prior year period were $0.92 per diluted share.
E. Scott Beattie, Chairman, President and Chief Executive Officer of Elizabeth Arden, Inc., commented, "The strength of our international business and our focus on operating efficiencies enabled us to achieve our earnings and operating margin targets this quarter despite a difficult holiday season in North America. For the first half of the year, we had an overall decline in our net sales in North America of 2%, while we had expected growth of approximately 4.5%, or $20 million. This shortfall was due to weak holiday performance largely at mass volume and prestige department store retailers. Net sales of our international business grew by 20% and by 14% in constant currency rates. The international growth was broad-based across geography and our brand portfolio."
"For the balance of this year, we expect softness in North America and continued strength in our international business. Our expectations for our international performance are based on the prior investments we have made to expand and improve profitability, particularly in Europe, Asia Pacific and Travel Retail."
The Company's key focus continues to be on improving operating margins, cash flow from operations and return on invested capital. The Company expects that the initiatives it began implementing last year, particularly in its extended supply chain and logistic areas, and improved growth and profitability in its international business, will allow it to achieve its cash flow and earnings targets this year despite slower net sales growth. The Company has already realized approximately 70% of its expected annual earnings guidance through the first half of its fiscal year. During January 2008, the Company collected over $100 million from customers, allowing it to significantly reduce its accounts receivables balance and reduce its credit facility borrowings to under $90 million.
SIX MONTH RESULTS
For the six months ended December 31, 2007, net sales rose 4.3% to $694.2 million from $665.6 million for the six months ended December 31, 2006. Excluding the favorable impact of foreign currency translation, net sales increased 1.9%. Net income, excluding restructuring charges, was $34.9 million, or $1.18 per diluted share, versus $25.8 million, or $0.91 per diluted share, for the year-ago period. On a reported basis, net income was $34.1 million, or $1.16 per diluted share compared to $24.5 million, or $0.86 per diluted share, for the prior year period.
OUTLOOK
For fiscal 2008, the Company is confirming its diluted earnings per share guidance of $1.65 to $1.75, a $0.29 to $0.39 per share increase over the prior fiscal year. The earnings guidance for the second half of the fiscal year assumes earnings per share of $0.47 to $0.57 as compared to earnings of $0.45 per share for the second half of the prior fiscal year. With respect to net sales, the Company expects net sales for the full year to increase by 3% to 4%.
For the third fiscal quarter ending March 31, 2008, the Company expects net sales to increase in the low single digits as compared to the prior year quarter, and diluted earnings per share to be in the range of $0.04 to $0.08. The strength of expected fourth fiscal quarter earnings reflects the phasing of savings from the supply chain and logistics initiatives previously discussed and the introduction of a number of new fragrance brands into new channels of distribution. 

Elizabeth Arden Enters Into Licensing Agreement With AEFFE S.p.A. to Launch Alberta Ferretti Fragrance, Skincare, and Cosmetics
~ Renowned Italian designer Alberta Ferretti to bring her fashion inspiration to fragrance creation ~
NEW YORK, Jan. 28 /PRNewswire-FirstCall/ -- Elizabeth Arden, Inc. (Nasdaq: RDEN), a global prestige beauty products company, has entered into an exclusive long-term global licensing agreement with AEFFE S.p.A. for the development, marketing and distribution of fragrance, cosmetics, and skincare products with the leading fashion designer Alberta Ferretti. A debut fragrance is planned to launch in the spring of 2009. Elizabeth Arden will produce and market the fragrance collections with creative direction for the scents to come from Alberta Ferretti herself.
International designer Alberta Ferretti is known worldwide for her beautiful gowns, chosen by innumerable celebrities for their red carpet appearances. Her style is feminine and sensual, elegant and contemporary, complimenting each woman's personality by enhancing her own beauty with exquisite tailoring and fine details.
"Alberta Ferretti is an icon in the world of fashion design, and we are thrilled to be working with her to create a fragrance line that reflects the sensibilities of her style," said E. Scott Beattie, Chairman and Chief Executive Officer of Elizabeth Arden. "Adding the Alberta Ferretti name to our designer fragrance brands allows us to diversify our fragrance brand portfolio and strategically expand our reach of prestige fragrance distribution, particularly in the European fragrance market," added Beattie.