Elizabeth Arden (RDEN) Tops Q1 EPS by 10c

Elizabeth Arden (NASDAQ: RDEN) reported Q1 EPS of ($0.43), $0.10 better than the analyst estimate of ($0.53). Revenue for the quarter came in at $270.4 million versus the consensus estimate of $275.1 million.

The Company reiterates its comments regarding the outlook for fiscal 2015.

E. Scott Beattie, Chairman, President and Chief Executive Officer, commented, “Our first quarter results were in-line with our expectations, with sales and earnings declines that we expected and forecasted. As we previously stated, fiscal 2015 is a rebuilding year, and during the quarter we continued to advance the key elements of our turnaround plans. We recently established a joint venture with the Chalhoub Group in the Middle East to accelerate growth in that region and expect to establish an additional joint venture for Southeast Asia in 2015. The objective of both of these joint ventures is to accelerate the commercialization of our brands in large, rapidly growing beauty markets with partners who have established sales and marketing infrastructures. Finally, with respect to our performance improvement plans, our indirect overhead savings were slightly ahead of budget for the first quarter, and we remain committed to achieving a total of $40 million to $50 million of annualized savings.”

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

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