Elizabeth Arden (RDEN) Misses Q1 EPS by 1c

Elizabeth Arden (NASDAQ: RDEN) reported Q1 EPS of ($0.18), $0.01 worse than the analyst estimate of ($0.17). Revenue for the quarter came in at $266 million versus the consensus estimate of $267.88 million.

Guidance:

The Company currently expects the following for fiscal 2016 (on an adjusted basis):

• Net sales increases driven by the International business and the Elizabeth Arden brand (at constant foreign currency rates)
• Foreign currency headwinds to continue, more significantly through the second fiscal quarter, and to negatively impact full year net sales growth by approximately 3% (as compared to the Company’s estimate of 2% in August 2015).
• Gross margin expansion primarily due to better sales mix, improved commercial execution and improved cost structure;
• Lower overall selling, general and administrative expenses, with lower indirect overhead costs and targeted reinvestment in advertising to accelerate revenue growth; and
• Improved EBITDA margins from gross margin expansion and lower indirect overhead expenses.

For earnings history and earnings-related data on Elizabeth Arden (RDEN) click here.

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