Sales of the Britney Spears fragrance Curious overseas and in travel retail markets helped Elizabeth Arden Inc. post third-quarter sales of $198.3 million, a 9 percent gain compared with last year’s similar quarter.
The Miami Lakes-based firm said that profits for the quarter ended March 31 were $5.6 million, or 19 cents per share, compared with a loss of $10.5 million, or 46 cents a share. Last year’s numbers included large debt and restructuring charges.
The firm also announced Wednesday a deal with Allergan Inc. to co-market an antioxidant, anti-aging skin care product.
The new product, Prevage, will contain 0.5 percent idebenone, an antioxidant, while the full-strength product, which contains 1 percent, will be known as Prevage MD and remain available by prescription. The cream is prescribed to reduce fine lines and wrinkles on the skin and protect against future damage. Allergan, which also makes the Botox anti-wrinkle treatment, introduced Prevage in January.
“We expect this to be a tremendous asset going forward for many years to come,” said Scott Beattie, Arden’s chief executive and chairman, in a conference call with analysts. Remarking on the quarter, Beattie said it unfolded pretty much as expected.
Analysts surveyed by Thomson Financial were looking for the company to post earnings of 19 cents per share on sales of $199.4 million in the latest period.
The company also plans to launch another Britney Spears fragrance in U.S. department stores in the fall.
For the year, which ends June 30, Arden said it expects sales of $900 million to $910 million and earnings per share of $1.26 to $1.30, an increase of between 25 percent and 29 percent over the past fiscal year.
Credit — BritneyGlamour.Com